78S30462 JTS-F

By:  Ogden                                                        S.B. No. 21 



A BILL TO BE ENTITLED

AN ACT

relating to the authority of certain banks and trust companies to 
furnish certain indemnifying bonds and pledge securities required 
by the Texas Department of Transportation or a regional tollway 
authority.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 361.178, Transportation Code, as amended 
by Chapters 312 and 1325, Acts of the 78th Legislature, Regular 
Session, 2003, is reenacted and amended to read as follows:
	Sec. 361.178.  FURNISHING OF INDEMNIFYING BONDS OR PLEDGE OF 
SECURITIES.  A bank or trust company that has its main office or a 
branch located in [incorporated under the laws of] this state that 
acts as depository of the proceeds of bonds or of revenue may 
furnish indemnifying bonds or pledge securities that the department 
requires.
	SECTION 2.  Section 366.117(a), Transportation Code, is 
amended to read as follows:
	(a)  A bank or trust company that has its main office or a 
branch located in [incorporated under the laws of] this state that 
acts as depository of the proceeds of bonds or of revenue may 
furnish indemnifying bonds or pledge securities that an authority 
requires.
	SECTION 3.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect on the 91st day after the last day of the 
legislative session.