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A BILL TO BE ENTITLED
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AN ACT
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relating to the power of the Bell County Water Control and |
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Improvement District No. 1 to issue bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 9005.102, Special District Local Laws |
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Code, is amended to read as follows: |
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Sec. 9005.102. AUTHORITY TO ISSUE BONDS. (a) The district |
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may issue bonds for the purpose of purchasing, constructing, |
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acquiring, owning, operating, repairing, improving, enlarging, or |
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extending any district works, improvements, facilities, plants, |
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equipment, and appliances needed or useful to accomplish or carry |
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out the purposes, powers, functions, or obligations of the |
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district, including works, improvements, facilities, plants, |
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equipment, and appliances needed to provide a waterworks system, |
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sanitary sewer system, storm sewer system, or solid waste disposal |
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system. [In this section, "district property" means the district's
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improvements, including property operated by the district under a
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lease.] |
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(b) To provide for the payment of bonds issued under this |
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section, the [The] district may: |
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(1) impose ad valorem taxes on all taxable property in |
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the district; |
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(2) pledge all or any part of revenue available to the |
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district from any source, including all or part of the revenue: |
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(A) resulting from the ownership or operation of |
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the district's works, improvements, facilities, plants, equipment, |
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and appliances; or |
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(B) available under specific contracts for a |
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period of time the district determines; or |
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(3) pledge any combination of the sources of taxes or |
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revenue described by Subdivisions (1) and (2) [may call a bond
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election and issue bonds in the manner and for the purposes provided
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in Chapters 49 and 51, Water Code.
In addition to the purposes
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under those chapters, the district may vote on and issue bonds to:
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[(1)
acquire materials, supplies, equipment, and
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other property needed or useful to maintain district property; and
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[(2)
extend, enlarge, improve, or repair district
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property]. |
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(c) Bonds secured by and payable solely from revenue under |
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Subsection (b)(2): |
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(1) may be issued without an election; and |
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(2) are not subject to Section 49.181, Water Code [If
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bonds are voted on and issued in connection with property to be
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operated by the district under lease, the engineer's report must
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include a summary of the proposed expenditures of the bond
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proceeds]. |
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(d) The district must hold an election in the manner |
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provided by Chapters 49 and 51, Water Code, to obtain voter approval |
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before the district may impose an ad valorem tax or issue bonds |
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payable from ad valorem taxes. |
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(e) The district may exercise any of the rights or powers |
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granted to the governing body of an issuer under Chapter 1371, |
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Government Code. |
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(f) This section is wholly sufficient authority for the |
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issuance of bonds, the pledge of revenues, taxes, or any |
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combination of revenues and taxes, and the performance of other |
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acts and procedures authorized by this section by the district |
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without reference to any other provision of law or any restriction |
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or limitation contained in those provisions, except as specifically |
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provided by this section. |
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(g) To the extent of any conflict or inconsistency between |
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this section and any other law, this section controls. |
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(h) The district may use any law not in conflict with this |
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section to the extent convenient or necessary to carry out any power |
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or authority, express or implied, granted by this section. |
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SECTION 2. The changes in law made by this Act apply only to |
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a bond issued by the Bell County Water Control and Improvement |
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District No. 1 on or after the effective date of this Act. A bond |
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issued by the Bell County Water Control and Improvement District |
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No. 1 before the effective date of this Act is governed by the law as |
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it existed immediately before the effective date of this Act, and |
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that law is continued in effect for that purpose. |
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SECTION 3. (a) The legal notice of the intention to |
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introduce this Act, setting forth the general substance of this |
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Act, has been published as provided by law, and the notice and a |
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copy of this Act have been furnished to all persons, agencies, |
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officials, or entities to which they are required to be furnished |
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under Section 59, Article XVI, Texas Constitution, and Chapter 313, |
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Government Code. |
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(b) The governor, one of the required recipients, has |
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submitted the notice and Act to the Texas Commission on |
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Environmental Quality. |
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(c) The Texas Commission on Environmental Quality has filed |
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its recommendations relating to this Act with the governor, the |
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lieutenant governor, and the speaker of the house of |
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representatives within the required time. |
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(d) All requirements of the constitution and laws of this |
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state and the rules and procedures of the legislature with respect |
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to the notice, introduction, and passage of this Act are fulfilled |
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and accomplished. |
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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, 2011. |