76R12938 DRH-F
By Coleman H.B. No. 2898
Substitute the following for H.B. No. 2898:
By Carter C.S.H.B. No. 2898
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the execution of credit agreements and issuance of
1-3 obligations by certain political subdivisions.
1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-5 SECTION 1. Sections 1(1) and (3), Chapter 656, Acts of the
1-6 68th Legislature, Regular Session, 1983 (Article 717q, Vernon's
1-7 Texas Civil Statutes), are amended to read as follows:
1-8 (1) "Issuer" means (A) any incorporated city
1-9 operating under a home-rule charter adopted pursuant to Article XI,
1-10 Section 5, of the Constitution of Texas having a population
1-11 according to the latest federal decennial census of 90,000 or more
1-12 and having outstanding long-term debt secured by the revenues of
1-13 the public utility for which the obligations are being issued which
1-14 is rated by a nationally recognized rating agency for municipal
1-15 securities in one of the four highest rating categories for
1-16 long-term obligations; (B) any conservation and reclamation
1-17 district created and organized as a river authority under and
1-18 pursuant to Article III, Section 52, or Article XVI, Section 59, of
1-19 the Constitution of Texas and by an act of the legislature of the
1-20 State of Texas; (C) any joint powers agency organized and
1-21 operating pursuant to Chapter 163, Utilities Code [166, Acts of the
1-22 63rd Legislature, Regular Session, 1973 (Article 1435a, Revised
1-23 Statutes)]; (D) any metropolitan rapid transit authority or
1-24 regional transportation authority created, organized, and operating
2-1 pursuant to Chapter 451 or 452, Transportation Code [141, Acts of
2-2 the 63rd Legislature, Regular Session, 1973 (Article 1118x, Revised
2-3 Statutes) or Chapter 683, Acts of the 66th Legislature, Regular
2-4 Session, 1979 (Article 1118y, Revised Statutes)]; (E) any
2-5 conservation and reclamation district organized or operating as a
2-6 navigation district under and pursuant to Article III, Section 52,
2-7 or Article XVI, Section 59, of the Constitution of Texas; (F) any
2-8 district organized or operating under and pursuant to Article XVI,
2-9 Section 59, of the Constitution of Texas which has all or part of
2-10 two or more incorporated cities within its boundaries;
2-11 (G) agencies of the State of Texas (including the governing boards
2-12 of the state institutions of higher education); (H) any hospital
2-13 authority in a county with a population of more than 2 million,
2-14 according to the most recent federal census, or any hospital
2-15 authority in a county that is included, in whole or in part, in a
2-16 standard metropolitan statistical area of this state that includes
2-17 a county with a population of more than 1,800,000, that was created
2-18 or is operating under Chapter 262, Health and Safety Code, or
2-19 Chapter 264, Health and Safety Code; (I) any nonprofit corporation
2-20 organized to exercise the powers of a higher education authority
2-21 under Subsection (e), Section 53.47, Education Code; [and] (J) a
2-22 county having a population of 2 million or more according to the
2-23 most recent federal census; (K) an independent school district
2-24 that has an average daily attendance of 50,000 or more as
2-25 determined under Section 42.005, Education Code; (L) a
2-26 municipality or county operating under Chapter 334, Local
2-27 Government Code; and (M) a district created under Chapter 335,
3-1 Local Government Code.
3-2 (3) "Eligible project" means:
3-3 (A) the acquisition or construction of and
3-4 improvements, additions, or extensions to a public utility, one or
3-5 more, including capital assets and facilities incident and related
3-6 to the operation, maintenance, and administration thereof, and,
3-7 with respect to properties and facilities for (1) the generation of
3-8 electric power and energy, fuel acquisition, or development or
3-9 facilities for the transportation thereof; (2) a public
3-10 transportation system, buildings, structures, terminals, rolling
3-11 stock, garages, shops, equipment, and other facilities (including
3-12 vehicle parking areas and facilities necessary or convenient for
3-13 the beneficial use and access of persons and vehicles to stations,
3-14 terminals, yards, cars, and buses or for the protection and
3-15 environmental enhancement of such facilities) for mass public
3-16 transportation; (3) a port facility, wharves, docks, warehouses,
3-17 grain elevators, other storage facilities, bunkering facilities,
3-18 port-related railroads and bridges, floating plants and facilities,
3-19 lightering facilities, cargo handling facilities, towing
3-20 facilities, and all other facilities or aids incident to or useful
3-21 in the operation of a port facility; (4) a causeway, bridge,
3-22 tunnel, turnpike, highway, or a combination of such facilities,
3-23 including all necessary overpasses, underpasses, interchanges,
3-24 entrance plazas, tollhouses, service stations, approaches,
3-25 fixtures, accessories, equipment, storage, administration, and
3-26 other necessary buildings, together with all property rights,
3-27 easements, and other interests acquired in connection therewith;
4-1 (5) any public improvements owned by a county that serve the
4-2 purpose of attracting visitors and tourists to a county, including
4-3 civic centers, auditoriums, exhibition halls, coliseums, stadiums,
4-4 and parking areas; [and] (6) a project for which there exist
4-5 authorized but unissued obligations approved by a majority of the
4-6 voters of the issuer, including obligations payable from ad valorem
4-7 taxes; and (7) an approved venue project under Chapter 334 or
4-8 335, Local Government Code; and
4-9 (B) a project for which an issuer is authorized
4-10 to issue revenue bonds secured, in whole or in part, by revenues
4-11 derived from or related to student loans.
4-12 SECTION 2. This Act takes effect September 1, 1999.
4-13 SECTION 3. The importance of this legislation and the
4-14 crowded condition of the calendars in both houses create an
4-15 emergency and an imperative public necessity that the
4-16 constitutional rule requiring bills to be read on three several
4-17 days in each house be suspended, and this rule is hereby suspended.