By Ogden S.B. No. 914
77R5274 KEL-D
A BILL TO BE ENTITLED
1-1 AN ACT
1-2 relating to the location of certain facilities financed or
1-3 refinanced by higher education authorities or by nonprofit
1-4 corporations exercising the powers of those authorities.
1-5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-6 SECTION 1. Section 53.33, Education Code, is amended to read
1-7 as follows:
1-8 Sec. 53.33. FACILITIES: CONSTRUCTION, ACQUISITION, ETC. (a)
1-9 The authority may acquire by purchase, purchase contract, or lease,
1-10 may construct, or may enlarge, extend, repair, renovate, or
1-11 otherwise improve educational facilities or housing facilities. It
1-12 may acquire land for those purposes, furnish and equip the
1-13 facilities, and provide by contract, lease, or otherwise for the
1-14 operation and maintenance of the facilities.
1-15 (b) The facilities must [need not] be located within the
1-16 boundaries or extraterritorial jurisdiction [city limits] of a
1-17 [the] city that created the authority [or cities].
1-18 (c) If a city under Section 53.35 authorizes a nonprofit
1-19 corporation to exercise the powers of an authority under this
1-20 section, to the extent that this section conflicts with the powers
1-21 of the nonprofit corporation under the Texas Non-Profit Corporation
1-22 Act (Article 1396-1.01 et seq., Vernon's Texas Civil Statutes),
1-23 this section controls.
1-24 (d) Subsection (b) does not affect the validity of:
2-1 (1) bonds issued under this chapter before September
2-2 1, 2001; or
2-3 (2) powers exercised under this chapter with respect
2-4 to land or facilities acquired under this chapter before that date.
2-5 SECTION 2. This Act takes effect September 1, 2001.