Amend HB 1875 (committee printing) on page 4, between lines 9 
and 10, by inserting the following appropriately numbered SECTIONS 
and renumbering subsequent SECTIONS accordingly:
	SECTION __.  Section 49.153(e), Water Code, is amended to 
read as follows:   
	(e)  Subsection (c) does not apply to:                                         
		(1)  a note issued to and approved by the:                                    
			(A)  Farmers Home Administration;                                            
			(B)  United States Department of Agriculture; 
[or]        
			(C)  Texas Water Development Board;  or                                      
			(D)  North American Development Bank; or                              
		(2)  a district described by Section 49.181(h).                               
	SECTION __.  Section 49.181(a), Water Code, is amended to 
read as follows:   
	(a)  A district may not issue bonds unless the commission 
determines that the project to be financed by the bonds is feasible 
and issues an order approving the issuance of the bonds.  This 
section does not apply to refunding bonds or bonds issued to and 
approved by the Farmers Home Administration, the United States 
Department of Agriculture, the North American Development Bank, or 
the Texas Water Development Board.
	SECTION __.  Sections 49.183(a) and (b), Water Code, are 
amended to read as follows:
	(a)  Except for refunding bonds, or bonds sold to a state or 
federal agency or to the North American Development Bank, bonds 
issued by a district shall be sold after advertising for and 
receiving competitive sealed bids and shall be awarded to the 
bidder whose bid produces the lowest net effective interest rate to