By Hope H.B. No. 2693 76R7439 CMR-F A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to the operation of the East Montgomery County Improvement 1-3 District. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Section 16, Chapter 1316, Acts of the 75th 1-6 Legislature, Regular Session, 1997, is amended by adding Subsection 1-7 (d) to read as follows: 1-8 (d) The district has the powers of a home-rule municipality 1-9 as provided by Article 835s, Revised Statutes, and of a home-rule 1-10 municipality with a population of more than 100,000 as provided by 1-11 Section 380.002, Local Government Code. 1-12 SECTION 2. Chapter 1316, Acts of the 75th Legislature, 1-13 Regular Session, 1997, is amended by adding Section 30A to read as 1-14 follows: 1-15 Sec. 30A. BONDS. (a) The board may issue bonds as provided 1-16 by Subchapter J, Chapter 375, Local Government Code. 1-17 (b) In addition to the sources described in Subchapter J, 1-18 Chapter 375, Local Government Code, the bonds issued by the 1-19 district may be secured and made payable, wholly or partly, by a 1-20 pledge of any part of the net proceeds the district receives from: 1-21 (1) a specified portion of not more than one-half of 1-22 the maximum sales and use tax amount authorized and approved by 1-23 voters of the district under Section 22 of this Act; and 1-24 (2) repayments the district receives from a 2-1 municipality because of a required reduction of the district's 2-2 sales and use tax. 2-3 (c) Sections 375.207 and 375.208, Local Government Code, do 2-4 not apply to bonds issued under this section. 2-5 SECTION 3. Sections 29 and 30, Chapter 1316, Acts of the 2-6 75th Legislature, Regular Session, 1997, are repealed. 2-7 SECTION 4. This Act takes effect September 1, 1999. 2-8 SECTION 5. The importance of this legislation and the 2-9 crowded condition of the calendars in both houses create an 2-10 emergency and an imperative public necessity that the 2-11 constitutional rule requiring bills to be read on three several 2-12 days in each house be suspended, and this rule is hereby suspended.