1-1     By:  Coleman (Senate Sponsor - Whitmire)              H.B. No. 2898
 1-2           (In the Senate - Received from the House May 5, 1999;
 1-3     May 6, 1999, read first time and referred to Committee on
 1-4     Intergovernmental Relations; May 14, 1999, reported favorably by
 1-5     the following vote:  Yeas 4, Nays 0; May 14, 1999, sent to
 1-6     printer.)
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to the execution of credit agreements and issuance of
1-10     obligations by certain political subdivisions.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1.  Sections 1(1) and (3), Chapter 656, Acts of the
1-13     68th Legislature, Regular Session, 1983 (Article 717q, Vernon's
1-14     Texas Civil Statutes), are amended to read as follows:
1-15                 (1)  "Issuer" means (A)  any incorporated city
1-16     operating under a home-rule charter adopted pursuant to Article XI,
1-17     Section 5, of the Constitution of Texas having a population
1-18     according to the latest federal decennial census of 90,000 or more
1-19     and having outstanding long-term debt secured by the revenues of
1-20     the public utility for which the obligations are being issued which
1-21     is rated by a nationally recognized rating agency for municipal
1-22     securities in one of the four highest rating categories for
1-23     long-term obligations; (B)  any conservation and reclamation
1-24     district created and organized as a river authority under and
1-25     pursuant to Article III, Section 52, or Article XVI, Section 59, of
1-26     the Constitution of Texas and by an act of the legislature of the
1-27     State of Texas; (C)  any joint powers agency organized and
1-28     operating pursuant to Chapter 163, Utilities Code [166, Acts of the
1-29     63rd Legislature, Regular Session, 1973 (Article 1435a, Revised
1-30     Statutes)]; (D)  any metropolitan rapid transit authority or
1-31     regional transportation authority created, organized, and operating
1-32     pursuant to Chapter 451 or 452, Transportation Code [141, Acts of
1-33     the 63rd Legislature, Regular Session, 1973 (Article 1118x, Revised
1-34     Statutes) or Chapter 683, Acts of the 66th Legislature, Regular
1-35     Session, 1979 (Article 1118y, Revised Statutes)]; (E)  any
1-36     conservation and reclamation district organized or operating as a
1-37     navigation district under and pursuant to Article III, Section 52,
1-38     or Article XVI, Section 59, of the Constitution of Texas; (F)  any
1-39     district organized or operating under and pursuant to Article XVI,
1-40     Section 59, of the Constitution of Texas which has all or part of
1-41     two or more incorporated cities within its boundaries;
1-42     (G)  agencies of the State of Texas (including the governing boards
1-43     of the state institutions of higher education); (H)  any hospital
1-44     authority in a county with a population of more than 2 million,
1-45     according to the most recent federal census, or any hospital
1-46     authority in a county that is included, in whole or in part, in a
1-47     standard metropolitan statistical area of this state that includes
1-48     a county with a population of more than 1,800,000, that was created
1-49     or is operating under Chapter 262, Health and Safety Code, or
1-50     Chapter 264, Health and Safety Code; (I)  any nonprofit corporation
1-51     organized to exercise the powers of a higher education authority
1-52     under Subsection (e), Section 53.47, Education Code; [and] (J)  a
1-53     county having a population of 2 million or more according to the
1-54     most recent federal census; (K)  an independent school district
1-55     that has an average daily attendance of 50,000 or more as
1-56     determined under Section 42.005, Education Code; (L)  a
1-57     municipality or county operating under Chapter 334, Local
1-58     Government Code; and (M)  a district created under Chapter 335,
1-59     Local Government Code.
1-60                 (3)  "Eligible project" means:
1-61                       (A)  the acquisition or construction of and
1-62     improvements, additions, or extensions to a public utility, one or
1-63     more, including capital assets and facilities incident and related
1-64     to the operation, maintenance, and administration thereof, and,
 2-1     with respect to properties and facilities for (1) the generation of
 2-2     electric power and energy, fuel acquisition, or development or
 2-3     facilities for the transportation thereof;  (2) a public
 2-4     transportation system, buildings, structures, terminals, rolling
 2-5     stock, garages, shops, equipment, and other facilities (including
 2-6     vehicle parking areas and facilities necessary or convenient for
 2-7     the beneficial use and access of persons and vehicles to stations,
 2-8     terminals, yards, cars, and buses or for the protection and
 2-9     environmental enhancement of such facilities) for mass public
2-10     transportation;  (3) a port facility, wharves, docks, warehouses,
2-11     grain elevators, other storage facilities, bunkering facilities,
2-12     port-related railroads and bridges, floating plants and facilities,
2-13     lightering facilities, cargo handling facilities, towing
2-14     facilities, and all other facilities or aids incident to or useful
2-15     in the operation of a port facility;  (4) a causeway, bridge,
2-16     tunnel, turnpike, highway, or a combination of such facilities,
2-17     including all necessary overpasses, underpasses, interchanges,
2-18     entrance plazas, tollhouses, service stations, approaches,
2-19     fixtures, accessories, equipment, storage, administration, and
2-20     other necessary buildings, together with all property rights,
2-21     easements, and other interests acquired in connection therewith;
2-22     (5) any public improvements owned by a county that serve the
2-23     purpose of attracting visitors and tourists to a county, including
2-24     civic centers, auditoriums, exhibition halls, coliseums, stadiums,
2-25     and parking areas;  [and] (6) a project for which there exist
2-26     authorized but unissued obligations approved by a majority of the
2-27     voters of the issuer, including obligations payable from ad valorem
2-28     taxes;  and  (7) an approved venue project under Chapter 334 or
2-29     335, Local Government Code; and
2-30                       (B)  a project for which an issuer is authorized
2-31     to issue revenue bonds secured, in whole or in part, by revenues
2-32     derived from or related to student loans.
2-33           SECTION 2.  This Act takes effect September 1, 1999.
2-34           SECTION 3.  The importance of this legislation and the
2-35     crowded condition of the calendars in both houses create an
2-36     emergency and an imperative public necessity that the
2-37     constitutional rule requiring bills to be read on three several
2-38     days in each house be suspended, and this rule is hereby suspended.
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