1-1     By:  Haywood                                          S.B. No. 1870
 1-2           (In the Senate - Filed April 16, 1999; April 16, 1999, read
 1-3     first time and referred to Committee on Intergovernmental
 1-4     Relations; April 29, 1999, reported favorably by the following
 1-5     vote:  Yeas 4, Nays 0; April 29, 1999, sent to printer.)
 1-6                            A BILL TO BE ENTITLED
 1-7                                   AN ACT
 1-8     relating to the duty of the Stamford Hospital District to provide
 1-9     for the payment of debts and obligations prior to its dissolution.
1-10           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-11           SECTION 1.  Section 17a, Chapter 108, Acts of the 59th
1-12     Legislature, Regular Session, 1965, is amended to read as follows:
1-13           Sec. 17a.  (a)  The Board of Directors may, on behalf of the
1-14     Hospital District, borrow money from a federally insured lending
1-15     institution and make other financial arrangements to pay the
1-16     operating expenses and to meet the other lawfully authorized
1-17     obligations of the District.  The Board of Directors may borrow
1-18     money in the amount it considers advisable subject to a rate of
1-19     interest and other terms and conditions it considers advisable.  To
1-20     secure a loan, the Board of Directors may pledge revenues of the
1-21     District or property acquired with the borrowed money that are not
1-22     pledged to pay a bonded indebtedness of the District.  If revenues
1-23     of the District are pledged to pay the loan, the loan shall mature
1-24     not later than the fifth anniversary of the date on which the loan
1-25     is made.
1-26           (b)  The District must provide for the payment of all debts
1-27     and obligations of the District prior to the dissolution of the
1-28     District.
1-29           SECTION 2.  This Act takes effect September 1, 1999.
1-30           SECTION 3.  The importance of this legislation and the
1-31     crowded condition of the calendars in both houses create an
1-32     emergency and an imperative public necessity that the
1-33     constitutional rule requiring bills to read on three several days
1-34     in each house be suspended, and this rule is hereby suspended.
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