81R25835 ALB-F
 
  By: Hardcastle H.B. No. 1686
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the Muenster Hospital District.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 477, Acts of the 59th Legislature,
  Regular Session, 1965, is amended by adding Sections 9A and 9B to
  read as follows:
         Sec. 9A.  In addition to the authority to issue general
  obligation bonds and revenue bonds under this Act, the Board may
  provide for the security and payment of District bonds from a pledge
  of a combination of ad valorem taxes as authorized by Section 9 of
  this Act and revenue and other sources authorized by Section 7 of
  this Act.
         Sec. 9B.  The District may use the proceeds of bonds issued
  under this Act to pay:
               (1)  any expense the Board determines is reasonable and
  necessary to issue, sell, and deliver the bonds;
               (2)  interest payments on the bonds during a period of
  acquisition or construction of a project or facility to be provided
  through the bonds, not to exceed five years;
               (3)  costs related to the operation and maintenance of
  a project or facility to be provided through the bonds:
                     (A)  during an estimated period of acquisition or
  construction, not to exceed five years; and
                     (B)  for one year after the project or facility is
  acquired or constructed;
               (4)  costs related to the financing of the bond funds,
  including debt service reserve and contingency funds;
               (5)  costs related to the bond issuance;
               (6)  costs related to the acquisition of land or
  interests in land for a project or facility to be provided through
  the bonds; and
               (7)  costs of construction of a project or facility to
  be provided through the bonds, including the payment of related
  professional services and expenses.
         SECTION 2.  Section 20a(a), Chapter 477, Acts of the 59th
  Legislature, Regular Session, 1965, is amended to read as follows:
         Sec. 20a.  (a)  The [If the Board of Directors declares that
  funds are not available to meet the lawfully authorized obligations
  of the District and that an emergency exists, the] Board may borrow
  money at a rate not to exceed the maximum annual percentage rate
  allowed by law for District obligations at the time of the loan.
         SECTION 3.  Section 20a(d), Chapter 477, Acts of the 59th
  Legislature, Regular Session, 1965, is repealed.
         SECTION 4.  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, 2009.