By Averitt                                            H.B. No. 2153
         77R3071 JJT-F                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to the directors and authority of the Texas Public Finance
 1-3     Authority.
 1-4           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
 1-5           SECTION 1. Section 1232.002, Government Code, is amended to
 1-6     read as follows:
 1-7           Sec. 1232.002.  PURPOSE. The purpose of this chapter is to
 1-8     provide a method of financing for:
 1-9                 (1)  the acquisition or construction of buildings [in
1-10     Travis County]; and
1-11                 (2)  the purchase or lease of equipment by executive or
1-12     judicial branch state agencies.
1-13           SECTION 2. Section 1232.052(a), Government Code, is amended
1-14     to read as follows:
1-15           (a)  The authority is governed by a board of directors
1-16     composed of seven [six] members appointed by the governor with the
1-17     advice and consent of the senate.
1-18           SECTION 3. Section 1232.053, Government Code, is amended to
1-19     read as follows:
1-20           Sec. 1232.053.  TERMS. Members of the board are appointed for
1-21     staggered terms of six years, with two or three members' terms
1-22     expiring February 1 of each odd-numbered year.
1-23           SECTION 4. Section 1232.101, Government Code, is amended to
1-24     read as follows:
 2-1           Sec. 1232.101.  ISSUANCE OF BONDS FOR CERTAIN STATE AGENCIES.
 2-2     [(a)]  With respect to all bonds authorized to be issued by the
 2-3     Texas Military Facilities Commission, Texas National Research
 2-4     Laboratory Commission, Parks and Wildlife Department, Texas
 2-5     Low-Level Radioactive Waste Disposal Authority, Stephen F. Austin
 2-6     State University, Midwestern State University, and Texas Southern
 2-7     University [and each institution of higher education authorized to
 2-8     issue bonds under Chapter 55, Education Code], the authority has
 2-9     the exclusive authority to act on behalf of those entities in
2-10     issuing bonds on their behalf.  In connection with those issuances
2-11     and with the issuance of refunding bonds on behalf of those
2-12     entities, the authority is subject to all rights, duties, and
2-13     conditions surrounding issuance previously applicable to the
2-14     issuing entity under the statute authorizing the issuance. A
2-15     reference in an authorizing statute to the entity on whose behalf
2-16     the bonds are being issued applies equally to the authority in its
2-17     capacity as issuer on behalf of the entity.
2-18           [(b)  Subsection (a)  does not apply to:]
2-19                 [(1)  The University of Texas System, The Texas A&M
2-20     University System, or a component of those systems;]
2-21                 [(2)  an institution of higher education authorized to
2-22     issue bonds under Section 17, Article VII, Texas Constitution; or]
2-23                 [(3)  bonds authorized to be issued by a system,
2-24     component, or institution described by Subdivision (1) or (2).]
2-25           [(c)  Notwithstanding any other provision of this section,
2-26     with respect to all bonds authorized to be issued by Midwestern
2-27     State University, Stephen F. Austin State University, or Texas
 3-1     Southern University, the authority has the exclusive authority to
 3-2     act on behalf of those institutions in issuing bonds on their
 3-3     behalf.  In connection with those issuances and with the issuance
 3-4     of refunding bonds on behalf of those institutions, the authority
 3-5     is subject to all rights, duties, and conditions surrounding
 3-6     issuance previously applicable to the issuing institution under the
 3-7     statute authorizing the issuance.  All references in an authorizing
 3-8     statute to the institution on whose behalf the bonds are being
 3-9     issued apply equally to the authority in its capacity as issuer on
3-10     behalf of the institution.]
3-11           SECTION 5. Section 1232.102(a), Government Code, is amended
3-12     to read as follows:
3-13           (a)  The board may issue and sell bonds in the name of the
3-14     authority to finance the acquisition or construction of buildings
3-15     [in Travis County].  After receiving a request described by Section
3-16     2166.452, the board may issue bonds in amounts not exceeding the
3-17     previously authorized amount of bonds plus five percent of the
3-18     acquisition cost of the property, as described in the request.
3-19           SECTION 6. Section 1232.110, Government Code, is amended to
3-20     read as follows:
3-21           Sec. 1232.110.  SPECIFIC PROJECTS [IN TRAVIS COUNTY]. The
3-22     board may issue bonds under Section 1232.102 for the following
3-23     projects:
3-24     Project                                         Estimated Cost
3-25     State Board of Insurance Building in            $59,937,000
3-26     Travis County; facilities associated
3-27     with relocation of the State Aircraft
 4-1     Pooling Board (not to exceed an
 4-2     estimated amount of $7,000,000); and
 4-3     the acquisition and development of
 4-4     acreage at Robert Mueller Municipal
 4-5     Airport for a state complex (not to
 4-6     exceed an estimated amount of
 4-7     $41,000,000)
 4-8     Laboratory and Office Facilities                $42,300,000
 4-9     for the Texas Department of Health
4-10     Parking facilities for state                    $29,500,000
4-11     officers and employees to be built
4-12     on state parking Lot 20 and for
4-13     visitors to the Capitol Complex
4-14     to be built on state parking Lot 17
4-15     Construction or purchase and renovation         $10,000,000
4-16     of a building or buildings by the
4-17     commission in Tarrant County
4-18     Construction or purchase and renovation         $20,000,000
4-19     of a building or buildings by the
4-20     commission in Harris County
4-21           SECTION 7. As soon as practicable after the effective date of
4-22     this Act, the governor shall appoint a new member to the board of
4-23     directors of the Texas Public Finance Authority for a term expiring
4-24     February 1, 2007.
4-25           SECTION 8. Sections 1232.111 and 1401.122, Government Code,
4-26     are repealed.
4-27           SECTION 9. This Act takes effect September 1, 2001.