SRC-JEC H.B. 2029 78(R)   BILL ANALYSIS


Senate Research Center   H.B. 2029
78R5538 KEG-FBy: Miller (Fraser)
Intergovernmental Relations
5/13/2003
Engrossed


DIGEST AND PURPOSE 

Currently, the Hamilton County Hospital District has the authority to
issue bonds, but its general obligation bond debts can only be paid using
taxes.  H.B. 2029 allows the hospital district bonds to be paid with a
combination of taxes and other revenues. 

RULEMAKING AUTHORITY

This bill does not expressly grant any additional rulemaking authority to
a state officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Article 7, Chapter 42, Acts of the 70th Legislature,
2nd Called Session, 1987, by adding Section 7.12, as follows: 

Sec. 7.12.  ADDITIONAL MEANS OF SECURING REPAYMENT OF BONDS. Authorizes
the board (board) of the Hamilton County Hospital District (district), in
addition to the power to issue general obligation bonds payable solely
from and secured by taxes imposed by the district as authorized by Section
7.01 of this Act and the power to issue revenue bonds payable from and
secured by revenues and other sources as authorized by Section 7.04 of
this Act, to provide for the security and payment of district bonds from a
pledge of a combination of ad valorem taxes, as authorized by Section 7.02
of this Act, and the revenues and other sources authorized by Section 7.04
of this Act.  Requires that bonds, other than refunding bonds issued under
Section 7.05 of this Act, that the board proposes to secure wholly or
partly by an ad valorem tax be approved at an election held in the
district in accordance with Section 7.03 of this Act. 

SECTION 2.  Effective date:  upon passage or September 1, 2003.