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A BILL TO BE ENTITLED
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AN ACT
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relating to the Sweeny Hospital District. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 4, Chapter 135, Acts of the 58th |
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Legislature, Regular Session, 1963, is amended to read as follows: |
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Sec. 4. The management and control of the [each hospital] |
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district [created pursuant to the provisions of this Act] is hereby |
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vested in the board of directors of the district who shall serve |
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without compensation but may be reimbursed for actual expenses |
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incurred in the performance of their official duties upon the |
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approval of such expenses by the entire board of directors. |
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SECTION 2. Chapter 135, Acts of the 58th Legislature, |
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Regular Session, 1963, is amended by adding Sections 6A and 6B to |
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read as follows: |
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Sec. 6A. In addition to the authority to issue general |
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obligation bonds and revenue bonds under this Act, 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 6(a) |
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of this Act and revenue and other sources as authorized by Section |
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6(e) of this Act. |
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Sec. 6B. The district may use the proceeds of bonds issued |
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under this Act 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 3. Chapter 135, Acts of the 58th Legislature, |
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Regular Session, 1963, is amended by adding Section 7B to read as |
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follows: |
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Sec. 7B. (a) The board may borrow money at a rate not to |
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exceed the maximum annual percentage rate allowed by law for |
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district obligations at 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 4. 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. |