Amend Floor Amendment No. 1 to HB 3620 (SENATE COMMITTEE
REPORT) as follows:
      (1)  Add the following subdivisions to subsection (b) of the
bill:
            (3)  completed before January 1, 2001 or as authorized
by the 77th Legislature; and
            (4)  undertaken only after the City of Texas City and
the land commissioner determine that the purchase is necessary for
the intended purpose and that such purpose could not be achieved by
leasing the real property described by Subsection (g) of this
section.
      (2)  Strike subsection (c) and substitute the following:
      (c)  The state expressly reserves for the benefit of the
Permanent School Fund all oil, gas and other minerals in, on or
under the property, together with the unrestricted right of ingress
and egress to explore for and develop the minerals reserved herein.
      (3)  At the end of subsection (e) before the "." insert the
following language:
      "and the terms negotiated in the purchase and sale agreement
authorized by Subsection (b) of this section.  The City or Port of
Texas City shall not undertake or authorize activities that
adversely affect the use or value of the contiguous state-owned
tracts without the prior authorization of the School Land Board and
compensation to the Permanent School Fund"