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 * * * * *