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S.B. No. 1090
AN ACT
relating to the powers and duties of a defense base development
authority.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (a), Section 379B.004, Local
Government Code, is amended to read as follows:
(a) An authority may exercise power necessary or convenient
to carry out a purpose of this chapter, including the power to:
(1) adopt an official seal, or alter it;
(2) adopt rules;
(3) enter into a contract or incur a liability;
(4) acquire and dispose of money;
(5) select a depository;
(6) establish a system of accounts for the authority;
(7) invest funds in accordance with Chapter 2256,
Government Code;
(8) set the fiscal year for the authority;
(9) adopt an annual operating budget for major
expenditures before the beginning of the fiscal year;
(10) borrow money or issue a bond in an amount that
does not exceed the maximum amount set by the board [governing body
of the municipality];
(11) loan money;
(12) acquire, lease, lease-purchase, convey, grant a
mortgage on, or otherwise dispose of a property right, including a
right regarding base property;
(13) lease property located on the base property to a
person to effect the purposes of this chapter;
(14) request and accept a donation, grant, guaranty,
or loan from any source permitted by law;
(15) operate and maintain an office;
(16) charge for a facility or service;
(17) exercise a power granted to a municipality by
Chapter 380;
(18) authorize by resolution the incorporation of a
nonprofit airport facility financing corporation as provided and
authorized by Subchapter E, Chapter 22, Transportation Code, to
provide financing to pay the costs, including interest, and
reserves for the costs of an airport facility authorized by that
chapter and for other purposes set forth in the articles of
incorporation; [and]
(19) exercise the powers granted to a local government
for the financing of facilities to be located on airport property,
including those set out in Chapter 22, Transportation Code,
consistent with the requirements and the purposes of Section 52-a,
Article III, Texas Constitution;
(20) lease, own, and operate an airport and exercise
the powers granted to municipalities and counties by Chapter 22,
Transportation Code;
(21) lease, own, and operate port facilities for air,
trucking, and rail transportation;
(22) provide security for port functions, facilities,
and operations; and
(23) cooperate with and participate in programs and
security efforts of this state and the federal Department of
Homeland Security.
SECTION 2. Subsection (a), Section 379B.010, Local
Government Code, is amended to read as follows:
(a) An authority may issue bonds if authorized by board
resolution [only if the municipality that established the authority
authorizes the issuance by resolution].
SECTION 3. Subsection (b), Section 379B.011, Local
Government Code, is amended to read as follows:
(b) Section 25.07(a), Tax Code, applies to a leasehold or
other possessory interest in real property granted by an authority
for a project designated under Section 379B.009(a) in the same
manner as it applies to a leasehold or other possessory interest in
real property constituting a project described by Section 4B(k),
Development Corporation Act of 1979 (Article 5190.6, Vernon's Texas
Civil Statutes), except for the requirement in Section 4B(k) that
the voters of the municipality that created the authority have
authorized the levy of a sales and use tax for the benefit of the
authority.
SECTION 4. The changes in law made by this Act apply only to
the borrowing of money or the issuance of an interest–bearing
obligation that occurs on or after the effective date of this Act.
The borrowing of money or the issuance of an interest–bearing
obligation that occurred before the effective date of this Act is
governed by the law as it existed when the money was borrowed or the
interest–bearing obligation was issued, and the former law is
continued in effect for that purpose. Any interest–bearing
obligation issued by a defense base development authority before
the effective date of this Act that was validly issued by the
authority remains valid, enforceable, and binding and shall be paid
in full, both principal and interest, in accordance with its terms
and from the sources pledged to the payment of the interest–bearing
obligation.
SECTION 5. This Act takes effect September 1, 2005.
______________________________ ______________________________
President of the Senate Speaker of the House
I hereby certify that S.B. No. 1090 passed the Senate on
May 2, 2005, by the following vote: Yeas 30, Nays 1.
______________________________
Secretary of the Senate
I hereby certify that S.B. No. 1090 passed the House on
May 25, 2005, by a non-record vote.
______________________________
Chief Clerk of the House
Approved:
______________________________
Date
______________________________
Governor