|
A BILL TO BE ENTITLED
|
|
AN ACT
|
|
relating to the purchasing methods available to a county when |
|
paying with certain funds. |
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
SECTION 1. Section 262.023, Local Government Code, is |
|
amended by amending Subsection (b) and adding Subsection (b-1) to |
|
read as follows: |
|
(b) The requirements established by Subsection (a) apply to |
|
contracts for which payment will be made from current funds or bond |
|
funds or through anticipation notes authorized by Chapter 1431, |
|
Government Code, or time warrants. Contracts for which payments |
|
will be made through certificates of obligation are governed by The |
|
Certificate of Obligation Act of 1971 (Subchapter C, Chapter 271). |
|
[Contracts for which payment will be made through anticipation
|
|
notes are subject to the competitive bidding provisions of The
|
|
Certificate of Obligation Act of 1971 (Subchapter C, Chapter 271)
|
|
in the same manner as certificates of obligation.] |
|
(b-1) A county that complies with a method described by |
|
Subchapter H, Chapter 271, as provided by Subsection (a)(3), to |
|
enter into a contract for which payment will be made through |
|
anticipation notes authorized by Chapter 1431, Government Code, may |
|
not issue anticipation notes for the payment of that contract in an |
|
amount that exceeds the lesser of: |
|
(1) 20 percent of the county's budget for the fiscal |
|
year in which the county enters into the contract; or |
|
(2) $10 million. |
|
SECTION 2. The changes in law made by this Act apply only to |
|
a contract entered into on or after the effective date of this Act. |
|
A contract entered into before the effective date of this Act is |
|
governed by the law in effect when the contract was entered into, |
|
and the former law is continued in effect for that purpose. |
|
SECTION 3. This Act takes effect September 1, 2007. |