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A BILL TO BE ENTITLED
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AN ACT
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relating to the Electra Hospital District. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1025.051, Special District Local Laws |
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Code, as effective April 1, 2009, is amended to conform to Section |
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1, Chapter 792, Acts of the 80th Legislature, Regular Session, |
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2007, to read as follows: |
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Sec. 1025.051. BOARD ELECTION; TERM. The district is |
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governed by a board of seven directors elected at large by place for |
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staggered three-year terms. A director's election shall be held |
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each year on the May uniform election date prescribed by Section |
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41.001, Election Code. [(a)
The board consists of seven directors
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elected from the district at large.
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[(b)
Directors serve staggered two-year terms unless
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four-year terms are established under Section 285.081, Health and
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Safety Code.] |
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SECTION 2. Subchapter D, Chapter 1025, Special District |
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Local Laws Code, as effective April 1, 2009, is amended by adding |
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Section 1025.161 to read as follows: |
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Sec. 1025.161. AUTHORITY TO BORROW MONEY; SECURITY. (a) |
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The board may borrow money at a rate not to exceed the maximum |
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annual percentage rate allowed by law for district obligations at |
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the time the loan is made. |
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(b) To secure a loan, the board may pledge: |
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(1) district revenue that is not pledged to pay the |
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district's bonded indebtedness; |
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(2) a district tax to be imposed by the district during |
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the 12-month period following the date of the pledge that is not |
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pledged to pay the principal of or interest on district bonds; or |
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(3) a district bond that has been authorized but not |
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sold. |
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(c) A loan for which taxes or bonds are pledged must mature |
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not later than the first anniversary of the date the loan is made. A |
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loan for which district revenue is pledged must mature not later |
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than the fifth anniversary of the date the loan is made. |
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SECTION 3. Subchapter E, Chapter 1025, Special District |
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Local Laws Code, as effective April 1, 2009, is amended by adding |
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Sections 1025.209 and 1025.210 to read as follows: |
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Sec. 1025.209. ADDITIONAL MEANS OF SECURING REPAYMENT OF |
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BONDS. In addition to the authority to issue general obligation |
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bonds and revenue bonds under this subchapter, the board may |
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provide for the security and payment of district bonds from a pledge |
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of a combination of ad valorem taxes as authorized by Section |
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1025.202 and revenue and other sources authorized by Section |
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1025.206. |
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Sec. 1025.210. USE OF BOND PROCEEDS. The district may use |
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the proceeds of bonds issued under this subchapter to pay: |
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(1) any expense the board determines is reasonable and |
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necessary to issue, sell, and deliver the bonds; |
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(2) interest payments on the bonds during a period of |
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acquisition or construction of a project or facility to be provided |
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through the bonds, not to exceed five years; |
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(3) costs related to the operation and maintenance of |
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a project or facility to be provided through the bonds: |
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(A) during an estimated period of acquisition or |
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construction, not to exceed five years; and |
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(B) for one year after the project or facility is |
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acquired or constructed; |
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(4) costs related to the financing of the bond funds, |
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including debt service reserve and contingency funds; |
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(5) costs related to the bond issuance; |
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(6) costs related to the acquisition of land or |
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interests in land for a project or facility to be provided through |
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the bonds; and |
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(7) costs of construction of a project or facility to |
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be provided through the bonds, including the payment of related |
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professional services and expenses. |
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SECTION 4. (a) The members of the board of directors of the |
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Electra Hospital District serving on the effective date of this Act |
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shall draw lots to determine in which place each director serves. |
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The four directors whose terms expire in 2010 shall draw lots for |
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Places 4, 5, 6, and 7. The three directors whose terms expire in |
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2011 shall draw lots for Places 1, 2, and 3. |
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(b) The election of the board of directors to be held in May |
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2010 must be held, and the directors elected for Places 4 and 5 at |
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that election shall serve three-year terms. The directors elected |
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for Places 6 and 7 at that election shall serve two-year terms. |
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(c) The directors elected at the election to be held in May |
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2011, May 2012, and May 2013 shall serve three-year terms. |
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SECTION 5. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |