78R6815 MTB-D
By: Madla S.B. No. 1497
A BILL TO BE ENTITLED
AN ACT
relating to the issuance of revenue bonds by the Texas Public
Finance Authority for the construction of school district
instructional facilities and the construction of the facilities by
the Texas Building and Procurement Commission.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 1232.066(a), Government Code, is amended
to read as follows:
(a) The board's authority under this chapter is limited to
the financing of:
(1) the acquisition or construction of a building;
(2) the purchase or lease of equipment; [or]
(3) stranded costs of a municipal power agency; or
(4) a school district instructional facility.
SECTION 2. Subchapter C, Chapter 1232, Government Code, is
amended by adding Section 1232.1025 to read as follows:
Sec. 1232.1025. ISSUANCE OF BONDS FOR SCHOOL DISTRICT
INSTRUCTIONAL FACILITIES. (a) The board shall promptly issue and
sell bonds in the name of the authority under this chapter to
finance the construction of a school district instructional
facility that has been authorized under Section 2166.554.
(b) The commission shall accomplish its statutory authority
as if the facility were a state office building financed by
legislative appropriation. The board and the commission shall
adopt a memorandum of understanding that defines the division of
authority between the board, the commission, and a school district.
(c) With respect to an instructional facility financed
under this section, a school district is considered to be a state
agency leasing a state office building from the commission for the
purposes of this chapter, including Subchapter D, except in
circumstances under which this chapter states that a building is
considered to be state-owned space. When the school district has
paid a sufficient amount in rentals so that the principal of and
interest on obligations issued by the authority relating to the
instructional facility are fully paid and the facility is free of
all liens, the board shall convey title to the school district in
accordance with Section 1232.006.
SECTION 3. Subchapter L, Chapter 2166, Government Code, is
amended by adding Section 2166.554 to read as follows:
Sec. 2166.554. CONSTRUCTION OF FACILITIES FOR SCHOOL
DISTRICTS. (a) This section applies only to a school district that
does not qualify for aid under Section 1402.124.
(b) At the request of a school district for construction of
an instructional facility, the commission may provide for the
construction of the facility under the procedures of this chapter
if the commission determines the request is feasible. The
construction of the facility shall be financed through revenue
bonds issued by the Texas Public Finance Authority under Section
1232.1025.
(c) The commission shall offer the school district a choice
of pre-approved blueprints for instructional facilities from a list
of choices created by the commission.
(d) The commission shall adopt rules to implement this
section.
SECTION 4. This Act takes effect September 1, 2003.