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. 1-35 * * * * *