1-1     By:  Madla                                             S.B. No. 340
 1-2           (In the Senate - Filed February 1, 1999; February 3, 1999,
 1-3     read first time and referred to Committee on Intergovernmental
 1-4     Relations; February 25, 1999, reported favorably by the following
 1-5     vote:  Yeas 5, Nays 0; February 25, 1999, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the conveyance of property by a municipality to a
 1-9     municipally created development corporation.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Chapter 253, Local Government Code, is amended by
1-12     adding Section 253.009 to read as follows:
1-13           Sec. 253.009.  CONVEYANCE OF ADJOINING PROPERTY TO MUNICIPAL
1-14     DEVELOPMENT CORPORATION.  (a)  A municipality may convey to a
1-15     municipally created economic development corporation, including a
1-16     development corporation organized under the Development Corporation
1-17     Act of 1979 (Article 5190.6, Vernon's Texas Civil Statutes), real
1-18     property that is adjacent to an area designated for development by
1-19     the corporation.
1-20           (b)  A municipality may convey property under Subsection
1-21     (a)  for any fair consideration approved by the governing body of
1-22     the municipality.  For a conveyance under this section to be
1-23     effective, the governing body must adopt an ordinance that:
1-24                 (1)  describes the property to be conveyed; and
1-25                 (2)  states the consideration paid.
1-26           (c)  A municipality may convey the property under this
1-27     section without complying with the other notice or bidding
1-28     requirements prescribed by other law, including Section 272.001.
1-29           SECTION 2.  The importance of this legislation and the
1-30     crowded condition of the calendars in both houses create an
1-31     emergency and an imperative public necessity that the
1-32     constitutional rule requiring bills to be read on three several
1-33     days in each house be suspended, and this rule is hereby suspended,
1-34     and that this Act take effect and be in force from and after its
1-35     passage, and it is so enacted.
1-36                                  * * * * *