79R11784 SLO-D


By:  Denny, Howard                                                H.B. No. 2000



A BILL TO BE ENTITLED

AN ACT

relating to the information that must be included in a school 
district bond election proposition.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 45.003, Education Code, is amended by 
adding Subsection (b-1) to read as follows:
	(b-1)  In addition to complying with Subsection (b) and any 
other requirements of law, the proposition submitted to authorize 
the issuance of bonds under Section 45.001 must also state:
		(1)  the principal amount of the bonds to be issued;                   
		(2)  whether the issuance will result in an increase in 
ad valorem taxes paid by taxpayers in the school district; and
		(3)  within a five percent margin of error:                            
			(A)  the total outstanding bonded indebtedness of 
the school district;
			(B)  the amount of ad valorem taxes to be imposed 
annually as a result of the issuance on a residence of the median 
taxable value in the school district's boundaries; and
			(C)  the total estimated cost to pay the principal 
of and interest on the bonds to maturity.
	SECTION 2.  Section 45.003(b-1), Education Code, as added by 
this Act, applies only to an election on the issuance of school 
district bonds for which the election order is issued on or after 
September 1, 2005.
	SECTION 3.  This Act takes effect September 1, 2005.