SRC-ARR, S.B. 1171 76(R)BILL ANALYSIS


Senate Research CenterS.B. 1171
76R7604 WP-DBy: Wentworth
Natural Resources
7/27/1999
Enrolled


DIGEST 

Currently, Texas law regulates certain powers and authority of the Upper
Guadalupe River Authority to borrow money for corporate purposes. S.B. 1171
will amend those powers and the authority of the Upper Guadalupe River
Authority to borrow money for corporate purposes.  

PURPOSE

As enrolled, S.B. 1171 regulates certain powers and the authority of the
Upper Guadalupe River Authority to borrow money for corporate purposes.  

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1. Amends Section 10(c) and (d), Article 8280-124, V.T.C.S., to
prohibit a note issued under this section from exceeding $55 million,
rather than $1 million, in the aggregate. Authorizes the notes to mature
over a term of not more than 40, rather than 20 years, and bear interest at
a rate of not more than 10 percent. 

SECTION 2. Sets forth the intent of the legislature. Provides that the
legislature anticipates this Act will take certain actions.  

SECTION 3. Provides that the proper and legal notice of intent to introduce
this Act has been meet. Provides that the Texas Natural Resource
Conservation Commission has filed its recommendations with certain persons
within the required time. Provides that all requirements of the
constitution and laws of this state and the rules and procedures of the
legislature with respect to the notice, introduction, and passage of this
Act will be fulfilled and accomplished. Effective date: 90 days after
adjournment.