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.
2-39 * * * * *