By McClendon H.B. No. 2209 76R6196 KEL-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the ability of a public housing authority to use a 1-3 public facility corporation to promote development of residential 1-4 housing and accomplish other public purposes. 1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-6 SECTION 1. Subchapter D, Chapter 392, Local Government Code, 1-7 is amended by adding Section 392.066 to read as follows: 1-8 Sec. 392.066. PUBLIC FACILITY CORPORATION. (a) An 1-9 authority that creates a public facility corporation under the 1-10 Public Facility Corporation Act (Article 717s, Revised Statutes) 1-11 may, with or without consideration, enter into an agreement with, 1-12 make a contribution to, make an investment in, enter into a lease 1-13 or exchange with, or make a mortgage or loan to the corporation to: 1-14 (1) acquire, construct, rehabilitate, renovate, 1-15 repair, equip, furnish, or place in service a residential 1-16 development described by Section 394.004 or a housing project; or 1-17 (2) accomplish another public purpose authorized by 1-18 law. 1-19 (b) An authority described by Subsection (a) may also, with 1-20 or without consideration: 1-21 (1) transfer, convey, pledge, or use money, personal 1-22 or real property, or any other right or benefit to which the 1-23 authority is entitled under state or federal law, to implement a 1-24 purpose described by Subsection (a); and 2-1 (2) pledge a right or benefit described by Subdivision 2-2 (1) to secure the payment of indebtedness issued by the public 2-3 facility corporation created by the authority. 2-4 (c) An authority may exercise a power granted by Subsection 2-5 (a) as necessary to implement programs designed to: 2-6 (1) develop or diversify the economy of this state; 2-7 (2) reduce unemployment or underemployment in this 2-8 state; 2-9 (3) develop or expand commerce in this state; or 2-10 (4) promote another public purpose. 2-11 (d) The powers granted by this section do not affect the 2-12 powers of an authority granted under the Public Facility 2-13 Corporation Act (Article 717s, Revised Statutes). 2-14 SECTION 2. The importance of this legislation and the 2-15 crowded condition of the calendars in both houses create an 2-16 emergency and an imperative public necessity that the 2-17 constitutional rule requiring bills to be read on three several 2-18 days in each house be suspended, and this rule is hereby suspended, 2-19 and that this Act take effect and be in force from and after its 2-20 passage, and it is so enacted.