By: Solomons (Senate Sponsor - Nelson) H.B. No. 3017
(In the Senate - Received from the House May 12, 2003;
May 13, 2003, read first time and referred to Committee on
Infrastructure Development and Security; May 20, 2003, reported
adversely, with favorable Committee Substitute by the following
vote: Yeas 8, Nays 0; May 20, 2003, sent to printer.)
COMMITTEE SUBSTITUTE FOR H.B. No. 3017 By: Shapiro
A BILL TO BE ENTITLED
AN ACT
relating to the organization, administration, and validation of the
creation and certain action of a coordinated county transportation
authority.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 460.001(3), Transportation Code, is
amended to read as follows:
(3) "Board of directors [Executive committee]" means
the governing body of the authority.
SECTION 2. Subchapter A, Chapter 460, Transportation Code,
is amended by adding Section 460.004 to read as follows:
Sec. 460.004. REFERENCE. A reference in this chapter to the
executive committee means the board of directors.
SECTION 3. Section 460.551(a), Transportation Code, is
amended to read as follows:
(a) The executive committee may impose for an authority a
sales and use tax at the rate of:
(1) one-quarter of one percent;
(2) three-eighths of one percent;
(3) [(2)] one-half of one percent;
(4) five-eighths of one percent;
(5) [(3)] three-quarters of one percent; [or]
(6) seven-eighths of one percent; or
(7) [(4)] one percent.
SECTION 4. Section 460.056, Transportation Code, is amended
by adding Subsection (f) to read as follows:
(f) The board of directors of a confirmed authority may by
rule create a procedure by which a municipality described by
Subsection (d) may become a participating member of an authority.
SECTION 5. Section 460.201(b), Transportation Code, is
amended to read as follows:
(b) A member of the board of directors [executive committee]
may not serve more than three consecutive terms.
SECTION 6. Subchapter D, Chapter 460, Transportation Code,
is amended by adding Section 460.206 to read as follows:
Sec. 460.206. RULES. The board of directors may adopt rules
relating to the creation of a vacancy on the board by the absence of
a board member at the board meetings, staggering the terms of up to
one-half of the board of directors, and providing for alternates.
SECTION 7. Section 460.404, Transportation Code, is amended
by adding Subsection (d) to read as follows:
(d) An authority may accept gifts, grants, donations,
receipts, or funds from any source to carry out its powers and
duties under this chapter.
SECTION 8. Section 460.502(c), Transportation Code, is
amended to read as follows:
(c) A bond issued by the authority may [must] have a
maturity of up to 30 years from the date of issuance [20-year even
principal and interest payback].
SECTION 9. Section 460.503, Transportation Code, is amended
to read as follows:
Sec. 460.503. BOND TERMS. The bonds of an authority are
fully negotiable. An authority may make the bonds redeemable
before maturity. The terms and conditions of authority bonds are
subject to rules adopted by the board of directors.
SECTION 10. Section 460.506, Transportation Code, is
amended to read as follows:
Sec. 460.506. SECURITY PLEDGED. To secure the payment of an
authority's bonds, the authority may:
(1) pledge all or part of revenue realized from any tax
that is approved and levied;
(2) pledge any part of the revenue of the public
transportation system; [or]
(3) mortgage any part of the public transportation
system; or
(4) pledge government grants, contractual revenue, or
lease revenue.
SECTION 11. Section 460.507, Transportation Code, is
amended to read as follows:
Sec. 460.507. REFUNDING BONDS. An authority may issue
refunding bonds at any time [if the repayment savings from the
refunding bonds exceeds the cost of issuance].
SECTION 12. Section 460.508(d), Transportation Code, is
amended to read as follows:
(d) An authority may not have outstanding notes in excess of
$10 [$1] million at any one time.
SECTION 13. (a) The creation of the Denton County
Transportation Authority under Chapter 1186, Acts of the 77th
Legislature, Regular Session, 2001, composed of the territory in
Denton County is validated as of the date of the election held on
November 5, 2002, at which the voters of Denton County approved the
confirmation of the district. Any acts and proceedings of the
district in Denton County are validated as of the dates they
occurred.
(b) This Act does not validate any government act or
proceeding that, under the law of this state at the time the act or
proceeding occurred, was a misdemeanor or a felony.
SECTION 14. This Act takes effect September 1, 2003, except
Section 3 of this Act takes effect only if House Bill 164, 78th
Legislature, Regular Session, 2003, is passed by the house and
senate and approved by the governor.
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