LEGISLATIVE BUDGET BOARD

Austin, Texas

FISCAL NOTE, 80TH LEGISLATIVE REGULAR SESSION

April 9, 2007

TO:	Honorable Robert Puente, Chair, House Committee on Natural Resources
FROM:	John S. O'Brien, Director, Legislative Budget Board
IN RE:	HB3771 by Puente (Relating to the issuance of bonds by a municipality for a defined area in an abolished municipal utility district.), As Introduced

No fiscal implication to the State is anticipated.

The bill would add Section 43.0805 to Subchapter D, Chapter 43 of the Local Government Code to authorize a municipality in which a municipal utility district is abolished and if the district had issued bonds for a defined area, to issue or sell municipal bonds in an amount not to exceed the amount of the unissued district bonds to carry out the purposes for which the district bonds were voted.

The bill would take effect immediately if it were to receive the required two-thirds vote in each house; otherwise, it would take effect September 1, 2007.

Local Government Impact

No significant fiscal implication to units of local government is anticipated.

Source Agencies:

LBB Staff:

JOB, WK, DB