| |
|
| |
|
|
By: Kolkhorst (Senate Sponsor - West) |
H.B. No. 730 |
|
|
(In the Senate - Received from the House April 23, 2007; |
|
|
April 26, 2007, read first time and referred to Committee on |
|
|
Intergovernmental Relations; May 16, 2007, reported adversely, |
|
|
with favorable Committee Substitute by the following vote: Yeas 3, |
|
|
Nays 0; May 16, 2007, sent to printer.) |
| |
|
|
COMMITTEE SUBSTITUTE FOR H.B. No. 730 |
By: West |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
| |
|
|
relating to the notice of a municipality's or county's intention to |
|
|
issue certificates of obligation. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Section 271.049(a), Local Government Code, is |
|
|
amended to read as follows: |
|
|
(a) Regardless of the sources of payment of certificates, |
|
|
certificates may not be issued unless the issuer publishes notice |
|
|
of its intention to issue the certificates. The notice must be |
|
|
published once a week for two consecutive weeks in a newspaper, as |
|
|
defined by Subchapter C, Chapter 2051, Government Code, that is of |
|
|
general circulation in the area of the issuer, with the date of the |
|
|
first publication to be before the 30th [14th] day before the date |
|
|
tentatively set for the passage of the order or ordinance |
|
|
authorizing the issuance of the certificates. |
|
|
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, 2007. |
|
|
|
|
|
* * * * * |