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


Senate Research Center   S.B. 1171
76R7604 WP-DBy: Wentworth
Natural Resources
4/12/1999
As Filed


DIGEST 

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

PURPOSE

As proposed, S.B. 1171 regulates certain powers and 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), Article 8280-124, V.T.C.S., to authorize
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. Deletes text
prohibiting a note from exceeding $1 million. Makes conforming changes. 

SECTION 2. 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 are fulfilled and accomplished. Effective date: 90 days after
adjournment.