H.B. No. 2931

relating to the authority of a municipality that includes or is near a defense base to issue bonds for facilities to be leased to the federal government. BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: SECTION 1. Section 1509.001(a), Government Code, is amended to read as follows: (a) A municipality may acquire land and may construct or acquire a building or other facility for the purpose of leasing the land, building, or other facility to: (1) a political subdivision or state agency for public use; [or] (2) an individual, private corporation, or other private entity for use in manufacturing or another commercial activity; or (3) if the municipality is a defense community as defined by Section 397.001, Local Government Code, the federal government to enhance the military value of a military facility located in or near the defense community. SECTION 2. Section 1509.004, Government Code, is amended by adding Subsection (c) to read as follows: (c) A municipality with a population of at least 50,000 that has taken action under Section 1509.001(a)(3) may also provide for the payment of the principal of or interest on the bonds issued to finance the action taken by pledging all or any part of other municipal revenue that the municipality is not prohibited from using for that payment. SECTION 3. 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. ______________________________ ______________________________ President of the Senate Speaker of the House I certify that H.B. No. 2931 was passed by the House on May 9, 2005, by the following vote: Yeas 144, Nays 0, 3 present, not voting. ______________________________ Chief Clerk of the House I certify that H.B. No. 2931 was passed by the Senate on May 25, 2005, by the following vote: Yeas 31, Nays 0. ______________________________ Secretary of the Senate APPROVED: _____________________ Date _____________________ Governor