By Hawley                                             H.B. No. 1484
         77R2540 JD-D                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the authority of a county to borrow from the state
 1-3     infrastructure bank.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Subchapter D, Chapter 222, Transportation Code, is
 1-6     amended by adding Section 222.0745 to read as follows:
 1-7           Sec. 222.0745.  AUTHORITY OF COUNTY TO BORROW FROM BANK. A
 1-8     county may borrow funds for road and bridge construction from the
 1-9     bank and repay the bank with the proceeds of ad valorem taxes
1-10     imposed by the county for that purpose over a term of years without
1-11     issuing bonds or other obligations evidencing the loan.
1-12           SECTION 2.  This Act takes effect immediately if it receives
1-13     a vote of two-thirds of all the members elected to each house, as
1-14     provided by Section 39, Article III, Texas Constitution.  If this
1-15     Act does not receive the vote necessary for immediate effect, this
1-16     Act takes effect September 1, 2001.