SRC-JBJ S.B. 1446 76(R)BILL ANALYSIS


Senate Research CenterS.B. 1446
By: Barrientos
Infrastructure
6/21/1999
Enrolled


DIGEST 

Currently, the City of Austin intends to construct an art museum in
downtown Austin.  The city planned initially to obtain donated property
critical to the museum from a local developer.  However, the developer
forfeited the property to another entity and the city now seeks to purchase
similarly necessary property.   

The General Services Commission (GSC) owns downtown property that the city
is interested in acquiring for the museum.  Although GSC owns the property,
it plans no future development on the site, and it could be sold to the
city.  S.B. 1446 will convey certain state-owned property to the City of
Austin at fair-market value. 

PURPOSE

As enrolled, S.B. 1446 conveys certain state-owned property to the City of
Austin. 

RULEMAKING AUTHORITY

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

SECTION BY SECTION ANALYSIS

SECTION 1.  Authorizes the General Services Commission (GSC) to convey
certain real property to the City of Austin, subject to the approval of the
Legislative Budget Board and Office of the Governor. Sets forth the terms
for purchase and sale of the property.  Authorizes GSC to transfer the
property only by a special warranty deed.  Provides that Section 31.158,
Natural Resources Code, does not apply to the conveyance of this section.
Sets forth the legal description of the property. 

SECTION 2.  Requires the proceeds from the conveyance to be deposited in
the state treasury and to be used only by GSC for deposit into the interest
and sinking fund of the outstanding bonds relating to the property in
amounts sufficient to defease the bonds. 

SECTION 3.Emergency clause.
  Effective date:  upon passage.