By: Duncan S.B. No. 1751
A BILL TO BE ENTITLED
AN ACT
relating to the powers and board of directors of the Lubbock Reese
Redevelopment Authority; authorizing a bond or similar obligation.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 3501.051, Special District Local Laws
Code, is amended to read as follows:
Sec. 3501.051. COMPOSITION OF BOARD. (a) The board is
composed of:
(1) four [seven] directors appointed by the governing
body of the City of Lubbock from a list of persons recommended by
the board under this section;
(2) two directors [one director] appointed by the
board as provided by Subsection (c) [commissioners court of Lubbock
County]; and
(3) one director appointed by the South Plains
Association of Governments.
(b) Before the term of a director appointed under Subsection
(a)(1) expires, the board, in consultation with the City of
Lubbock, shall recommend to the governing body of the City of
Lubbock a list of persons to serve on the succeeding board. After
reviewing the list of recommendations, the governing body of the
City of Lubbock shall appoint four directors from the recommended
persons or request that the board provide additional
recommendations.
(c) Before the term of a director appointed under Subsection
(a)(2) expires, the board shall appoint a person to succeed that
director.
(d) The governing body of the City of Lubbock or the board,
as appropriate, shall make recommendations and appointments to the
board so that places on the board are occupied by persons with
experience in:
(1) real estate;
(2) finance;
(3) manufacturing;
(4) agriculture; and
(5) general business.
SECTION 2. Subchapter C, Chapter 3501, Special District
Local Laws Code, is amended by adding Sections 3501.105 and
3501.106 to read as follows:
Sec. 3501.105. ADVISORY BOARDS. The board may appoint
advisory boards to assist the board in administering this chapter.
Sec. 3501.106. REVENUE BONDS. The authority may issue for
any authority purpose bonds or other obligations payable from any
source of authority revenue. The authority may issue a bond or
other obligation in the form of a bond, note, certificate of
participation or other instrument evidencing a proportionate
interest in payments to be made by the authority, or other type of
obligation.
SECTION 3. (a) As used in this section, "director" means a
member of the board of directors of the Lubbock Reese Redevelopment
Authority.
(b) The changes in law made by this Act in the prohibitions
or qualifications applying to directors do not affect the
entitlement of a director serving on the board of directors
immediately before the effective date of this Act to continue to
serve and function as a director until September 30, 2005. Those
changes in law apply only to a director appointed under Section
3501.051, Special District Local Laws Code, as amended by this Act.
(c) On September 30, 2005, all Lubbock Reese Redevelopment
Authority board members' terms expire.
(d) Not later than September 30, 2005:
(1) the governing body of the City of Lubbock shall
appoint four directors under Section 3501.051, Special District
Local Laws Code, as amended by this Act, to serve terms beginning
October 1, 2005, with two directors' terms expiring September 30,
2007, and two directors' terms expiring September 30, 2009;
(2) the board of directors of the Lubbock Reese
Redevelopment Authority shall appoint two directors under Section
3501.051, Special District Local Laws Code, as amended by this Act,
to serve terms beginning October 1, 2005, with one director's term
expiring September 30, 2007, and one director's term expiring
September 30, 2009; and
(3) the South Plains Association of Governments shall
appoint one director under Section 3501.051, Special District Local
Laws Code, as amended by this Act, to serve a term beginning October
1, 2005, and expiring September 30, 2009.
SECTION 4. 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.