1-1 By: Madla S.B. No. 1214
1-2 (In the Senate - Filed March 7, 2001; March 8, 2001, read
1-3 first time and referred to Committee on Veteran Affairs and
1-4 Military Installations; March 22, 2001, reported favorably by the
1-5 following vote: Yeas 5, Nays 0; March 22, 2001, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to authorizing defense base development authorities to
1-9 enter into credit agreements and to create nonprofit airport
1-10 facility financing corporations.
1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12 SECTION 1. Subsection (a), Section 378.004, Local Government
1-13 Code, as added by Chapter 1221, Acts of the 76th Legislature,
1-14 Regular Session, 1999, is amended to read as follows:
1-15 (a) An authority may exercise power necessary or convenient
1-16 to carry out a purpose of this chapter, including the power to:
1-17 (1) adopt an official seal, or alter it;
1-18 (2) adopt rules;
1-19 (3) enter into a contract or incur a liability;
1-20 (4) acquire and dispose of money;
1-21 (5) select a depository;
1-22 (6) establish a system of accounts for the authority;
1-23 (7) invest funds in accordance with Chapter 2256,
1-24 Government Code;
1-25 (8) set the fiscal year for the authority;
1-26 (9) adopt an annual operating budget for major
1-27 expenditures before the beginning of the fiscal year;
1-28 (10) borrow money or issue a bond in an amount that
1-29 does not exceed the maximum amount set by the governing body of the
1-30 municipality;
1-31 (11) loan money;
1-32 (12) acquire, lease, lease-purchase, convey, grant a
1-33 mortgage on, or otherwise dispose of a property right, including a
1-34 right regarding base property;
1-35 (13) lease property located on the base property to a
1-36 person to effect the purposes of this chapter;
1-37 (14) request and accept a donation, grant, guaranty,
1-38 or loan from any source permitted by law;
1-39 (15) operate and maintain an office;
1-40 (16) charge for a facility or service; [and]
1-41 (17) exercise a power granted to a municipality by
1-42 Chapter 380;
1-43 (18) authorize by resolution the incorporation of a
1-44 nonprofit airport facility financing corporation as provided and
1-45 authorized by Subchapter E, Chapter 22, Transportation Code, to
1-46 provide financing to pay the costs, including interest, and
1-47 reserves for the costs of an airport facility authorized by that
1-48 chapter and for other purposes set forth in the articles of
1-49 incorporation; and
1-50 (19) exercise the powers granted to a local government
1-51 for the financing of facilities to be located on airport property,
1-52 including those set out in Chapter 22, Transportation Code,
1-53 consistent with the requirements and the purposes of Section 52-a,
1-54 Article III, Texas Constitution.
1-55 SECTION 2. Section 378.010, Local Government Code, is
1-56 amended by adding Subsection (c) to read as follows:
1-57 (c) An authority issuing bonds under this section may
1-58 exercise the powers granted to the governing body of an issuer with
1-59 regard to the issuance of obligations and the execution of credit
1-60 agreements under Chapter 1371, Government Code.
1-61 SECTION 3. This Act takes effect immediately if it receives
1-62 a vote of two-thirds of all the members elected to each house, as
1-63 provided by Section 39, Article III, Texas Constitution. If this
1-64 Act does not receive the vote necessary for immediate effect, this
2-1 Act takes effect September 1, 2001.
2-2 * * * * *