80R7745 TAD-F

By: Creighton H.B. No. 1127

Substitute the following for H.B. No. 1127:

By: Creighton C.S.H.B. No. 1127

A BILL TO BE ENTITLED

AN ACT

relating to the issuance of bonds for recreational facilities by certain conservation and reclamation districts in Montgomery County.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

SECTION 1. Section 49.4645, Water Code, is amended by amending Subsection (a) and adding Subsection (f) to read as follows:

(a) A district all or part of which is located in Bastrop County, Bexar County, Waller County, Travis County, Williamson County, Harris County, Galveston County, Brazoria County, Montgomery County, or Fort Bend County may issue bonds supported by ad valorem taxes to pay for the development and maintenance of recreational facilities only if the bonds are authorized by a majority vote of the qualified voters of the district voting in an election held for that purpose. The outstanding principal amount of bonds, notes, and other obligations issued to finance parks and recreational facilities payable from any source may not exceed an amount equal to one percent of the value of the taxable property in the district as shown by the tax rolls of the central appraisal district at the time of the issuance of the bonds, notes, and other obligations or an amount greater than the estimated cost provided in the park plan under Subsection (b), whichever is smaller. The district may not issue bonds supported by ad valorem taxes to pay for the development and maintenance of:

(1) indoor or outdoor swimming pools; or

(2) golf courses.

(f) This section does not apply to a district all or part of which:

(1) is located in Montgomery County; and

(2) includes land within a planned community of at least 15,000 acres of land, of which a majority of the developed acreage is subject to restrictive covenants containing ad valorem assessments.

SECTION 2. (a) Notwithstanding any other law, if the qualified voters of a district to which Chapter 49, Water Code, applies and all or part of which is located in Montgomery County authorized bonds supported by ad valorem taxes to pay for the development and maintenance of recreational facilities by the favorable vote of a majority voting in an election held for that purpose after September 13, 2003, but before the effective date of this Act, that bond authorization is valid and no further election is required to authorize those bonds.

(b) This section does not apply to a district described by Section 49.4645(f), Water Code, as added by this Act.

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, 2007.