By: Delisi (Senate Sponsor - Fraser) H.B. No. 2931
(In the Senate - Received from the House May 10, 2005;
May 12, 2005, read first time and referred to Committee on Veteran
Affairs and Military Installations; May 19, 2005, reported
favorably by the following vote: Yeas 4, Nays 0; May 19, 2005,
sent to printer.)
A BILL TO BE ENTITLED
AN ACT
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.
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