1-1     By:  Wentworth                                        S.B. No. 1173
 1-2           (In the Senate - Filed March 6, 2001; March 8, 2001, read
 1-3     first time and referred to Committee on Finance; April 24, 2001,
 1-4     reported adversely, with favorable Committee Substitute by the
 1-5     following vote:  Yeas 9, Nays 3; April 24, 2001, sent to printer.)
 1-6     COMMITTEE SUBSTITUTE FOR S.B. No. 1173                   By:  Ellis
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to authorizing the issuance of not more than $9 million in
1-10     revenue bonds for the benefit of the Fleet Admiral Chester W.
1-11     Nimitz Memorial Naval Museum.
1-12           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-13           SECTION 1.  Subchapter Q, Chapter 22, Parks and Wildlife
1-14     Code, is amended by adding Section 22.233 to read as follows:
1-15           Sec. 22.233.  REVENUE BONDS FOR MUSEUM.  (a)  The department,
1-16     by resolution of the commission, may request the Texas Public
1-17     Finance Authority to issue revenue bonds or other revenue
1-18     obligations to finance the repair, renovation, improvement,
1-19     expansion, and equipping of the Nimitz museum for one or more
1-20     projects not to exceed an aggregated estimated cost of $9 million.
1-21           (b)  On receipt of a request by the department under this
1-22     section, the Texas Public Finance Authority shall promptly issue
1-23     the bonds or other revenue obligations under and in accordance with
1-24     Chapter 1232, Government Code.
1-25           (c)  The department shall deposit the proceeds of revenue
1-26     bonds or other revenue obligations issued under this section to the
1-27     credit of the Texas parks and wildlife conservation and capital
1-28     account and may use the proceeds only to finance the repair,
1-29     renovation, improvement, expansion, and equipping of the museum.
1-30           (d)  Notwithstanding any other law, the department may
1-31     contract with the Admiral Nimitz Foundation to oversee the
1-32     renovation, improvement, or expansion of the museum.
1-33           (e)  The department may accept contributions from the Admiral
1-34     Nimitz Foundation and other sources in connection with the repair,
1-35     renovation, improvement, expansion, equipping, or operation of the
1-36     museum.
1-37           SECTION 2.  This Act takes effect immediately if it receives
1-38     a vote of two-thirds of all the members elected to each house, as
1-39     provided by Section 39, Article III, Texas Constitution.  If this
1-40     Act does not receive the vote necessary for immediate effect, this
1-41     Act takes effect September 1, 2001.
1-42                                  * * * * *