1-1 By: Uher (Senate Sponsor - Armbrister) H.B. No. 2875 1-2 (In the Senate - Received from the House April 23, 2001; 1-3 April 24, 2001, read first time and referred to Committee on 1-4 Intergovernmental Relations; May 4, 2001, reported favorably by the 1-5 following vote: Yeas 6, Nays 0; May 4, 2001, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the authority of Matagorda County Hospital District to 1-9 lease property and enter into a loan agreement. 1-10 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-11 SECTION 1. Chapter 41, Acts of the 59th Legislature, Regular 1-12 Session, 1965, is amended by adding Section 4A to read as follows: 1-13 Sec. 4A. The Board of Managers may transfer by lease to 1-14 individuals, companies, corporations, or other legal entities 1-15 District property, facilities, or equipment on terms determined by 1-16 the board to further the purposes of the District. The term of a 1-17 lease entered into under this section may not exceed 25 years from 1-18 the date the lease is entered into. 1-19 SECTION 2. Chapter 41, Acts of the 59th Legislature, Regular 1-20 Session, 1965, is amended by adding Section 10B to read as follows: 1-21 Sec. 10B. (a) The Board of Managers may borrow money at a 1-22 rate of interest determined to be reasonable by the board. 1-23 (b) To secure a loan, the Board of Managers may pledge: 1-24 (1) the revenues of the District that are not pledged 1-25 to pay the bonded indebtedness of the District; 1-26 (2) tax revenue to be collected by the District during 1-27 the 12-month period following the date of the pledge that has not 1-28 been pledged to pay the principal of or interest on District bonds; 1-29 (3) District bonds that have been authorized but have 1-30 not been sold; or 1-31 (4) any other unencumbered assets of the District. 1-32 (c) The Board of Managers may not use loan proceeds obtained 1-33 under this section for any purpose other than the operational and 1-34 capital requirements of the District. 1-35 SECTION 3. This Act takes effect immediately if it receives 1-36 a vote of two-thirds of all the members elected to each house, as 1-37 provided by Section 39, Article III, Texas Constitution. If this 1-38 Act does not receive the vote necessary for immediate effect, this 1-39 Act takes effect September 1, 2001. 1-40 * * * * *