81R6839 NC-F
 
  By: Pitts H.B. No. 1730
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of bonds for the reimbursement
  of the cost of public improvements located in public improvement
  districts in certain counties.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 372, Local Government Code, is amended
  by adding Subchapter D to read as follows:
  SUBCHAPTER D. REIMBURSEMENT FOR PUBLIC IMPROVEMENTS IN CERTAIN
  COUNTIES
         Sec. 372.151.  APPLICABILITY. This subchapter applies only
  to a county that:
               (1)  contains no municipality with a population of more
  than 50,000; and
               (2)  is adjacent to at least two counties, each with a
  population of more than one million.
         Sec. 372.152.  ISSUANCE OF BONDS TO REIMBURSE ACQUIRED
  PUBLIC IMPROVEMENTS. (a) The governing body of a municipality or
  county may issue and sell general obligation bonds or revenue bonds
  to reimburse a developer for the cost of a public improvement if:
               (1)  the public improvement is located in a public
  improvement district created on or after January 1, 2005;
               (2)  the public improvement has been dedicated to and
  accepted by the municipality or county; and
               (3)  before the public improvement was dedicated to and
  accepted by the municipality or county, the governing body of the
  municipality or county entered into an agreement with the developer
  to pay for the public improvement.
         (b)  General obligation bonds or revenue bonds issued under
  this subchapter must comply with the provisions relating to general
  obligation bonds or revenue bonds issued under Subchapter A.
         SECTION 2.  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.