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.