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A BILL TO BE ENTITLED
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AN ACT
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relating to the applicability of certain municipal home-rule |
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charter provisions on actions relating to the issuance of public |
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securities by a home-rule municipality. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1201.028, Government Code, is amended to |
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read as follows: |
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Sec. 1201.028. SINGLE MEETING OF GOVERNING BODY SUFFICIENT. |
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Notwithstanding any other law, including a provision in a municipal |
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charter, the following actions taken at a meeting of the governing |
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body of an issuer are effective immediately, without requirement of |
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[and] a subsequent meeting, and are not subject to challenge by |
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referendum [is not required]: |
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(1) a resolution, order, or ordinance calling an |
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election to: |
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(A) authorize the issuance and sale of a public |
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security; or |
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(B) approve the resources, revenue, or income of |
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the issuer that may be pledged as security for a public security; |
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(2) a resolution, order, or ordinance canvassing the |
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results of an election described by Subdivision (1); or |
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(3) a public security authorization. |
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SECTION 2. 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. |