1-1     By:  Jackson                                          S.B. No. 1671
 1-2           (In the Senate - Filed March 9, 2001; March 14, 2001, read
 1-3     first time and referred to Committee on Education; March 26, 2001,
 1-4     reported adversely, with favorable Committee Substitute by the
 1-5     following vote:  Yeas 5, Nays 1; March 26, 2001, sent to printer.)
 1-6     COMMITTEE SUBSTITUTE FOR S.B. No. 1671                 By:  Staples
 1-7                            A BILL TO BE ENTITLED
 1-8                                   AN ACT
 1-9     relating to the issuance of bonds by school districts for the
1-10     purchase of school buses.
1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12           SECTION 1.  Subsection (a), Section 45.001, Education Code,
1-13     is amended to read as follows:
1-14           (a)  The governing board of an independent school district,
1-15     including the city council or commission that has jurisdiction over
1-16     a municipally controlled independent school district, the governing
1-17     board of a rural high school district, and the commissioners court
1-18     of a county, on behalf of each common school district under its
1-19     jurisdiction, may:
1-20                 (1)  issue [negotiable coupon] bonds for:
1-21                       (A)  the construction, acquisition, and equipment
1-22     of school buildings in the district;
1-23                       (B)  the acquisition of property or the
1-24     refinancing of property financed under a contract entered under
1-25     Subchapter A, Chapter 271, Local Government Code, regardless of
1-26     whether payment obligations under the contract are due in the
1-27     current year or a future year; [and]
1-28                       (C)  the purchase of the necessary sites for
1-29     school buildings; and
1-30                       (D)  the purchase of new school buses; and
1-31                 (2)  may levy, pledge, assess, and collect annual ad
1-32     valorem taxes sufficient to pay the principal of and interest on
1-33     the bonds as the principal and interest become due, subject to
1-34     Section 45.003.
1-35           SECTION 2.  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                                  * * * * *