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A BILL TO BE ENTITLED
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AN ACT
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relating to the Muenster Hospital District. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 477, Acts of the 59th Legislature, |
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Regular Session, 1965, is amended by adding Sections 9A and 9B to |
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read as follows: |
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Sec. 9A. 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 9 of |
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this Act and revenue and other sources authorized by Section 7 of |
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this Act. |
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Sec. 9B. 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 2. Section 20a(a), Chapter 477, Acts of the 59th |
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Legislature, Regular Session, 1965, is amended to read as follows: |
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Sec. 20a. (a) The [If the Board of Directors declares that
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funds are not available to meet the lawfully authorized obligations
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of the District and that an emergency exists, the] Board may borrow |
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money at a rate not to exceed the maximum annual percentage rate |
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allowed by law for District obligations at the time of the loan. |
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SECTION 3. Section 20a(d), Chapter 477, Acts of the 59th |
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Legislature, Regular Session, 1965, is repealed. |
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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. |
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