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79R8848 KEL-D

By:  McClendon                                                    H.B. No. 2375



A BILL TO BE ENTITLED

AN ACT

relating to the issuance of bonds or other obligations by certain 
junior college districts.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Section 1371.001(4), Government Code, is amended 
to read as follows:
		(4)  "Issuer" means:                                                          
			(A)  a home-rule municipality that:                                          
				(i)  adopted its charter under Section 5, 
Article XI, Texas Constitution; 
				(ii)  has a population of 50,000 or more; and                               
				(iii)  has outstanding long-term 
indebtedness that is rated by a nationally recognized rating agency 
for municipal securities in one of the four highest rating 
categories for a long-term obligation;
			(B)  a conservation and reclamation district 
created and organized as a river authority under Section 52, 
Article III, or Section 59, Article XVI, Texas Constitution;
			(C)  a joint powers agency organized and operating 
under Chapter 163, Utilities Code;
			(D)  a metropolitan rapid transit authority or 
regional transportation authority created, organized, and 
operating under Chapter 451 or 452, Transportation Code;
			(E)  a conservation and reclamation district 
organized or operating as a navigation district under Section 52, 
Article III, or Section 59, Article XVI, Texas Constitution;
			(F)  a district organized or operating under 
Section 59, Article XVI, Texas Constitution, that has all or part of 
two or more municipalities within its boundaries;
			(G)  a state agency, including a state institution 
of higher education;    
			(H)  a hospital authority created or operating 
under Chapter 262 or 264, Health and Safety Code, in a county that:
				(i)  has a population of more than 3.3 
million; or                        
				(ii)  is included, in whole or in part, in a 
standard metropolitan statistical area of this state that includes 
a county with a population of more than 2.2 million;
			(I)  a hospital district in a county that has a 
population of more than two million;
			(J)  a nonprofit corporation organized to 
exercise the powers of a higher education authority under Section 
53.47(e), Education Code;
			(K)  a county with a population of 3.3 million or 
more;                    
			(L)  an independent school district that has an 
average daily attendance of 50,000 or more as determined under 
Section 42.005, Education Code;
			(M)  a municipality or county operating under 
Chapter 334, Local Government Code; [or]
			(N)  a district created under Chapter 335, Local 
Government Code; or
			(O)  a junior college district that has a total 
headcount enrollment of 40,000 or more based on enrollment in the 
most recent regular semester.
	SECTION 2.  This Act takes effect immediately if it receives 
a vote of two-thirds of all the members elected to each house, as 
provided by Section 39, Article III, Texas Constitution.  If this 
Act does not receive the vote necessary for immediate effect, this 
Act takes effect September 1, 2005.