81R25835 ALB-F | |||
By: Hardcastle | H.B. No. 1686 | ||
Substitute the following for H.B. No. 1686: | |||
By: Morrison | C.S.H.B. No. 1686 |
|
||
|
||
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 [ |
||
|
||
|
||
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Legislature, Regular Session, 1965, is repealed.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. |