| |
| |
|
|
A BILL TO BE ENTITLED
|
|
|
AN ACT
|
|
|
relating to Internet availability of bonds and other debt |
|
|
obligations issued by local governments. |
|
|
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|
|
SECTION 1. Subchapter B, Chapter 1231, Government Code, is |
|
|
amended by adding Section 1231.024 to read as follows: |
|
|
Sec. 1231.024. INTERNET AVAILABILITY OF CERTAIN LOCAL |
|
|
GOVERNMENT DEBT INFORMATION. The board shall establish on the |
|
|
board's Internet website a database of outstanding bonds and other |
|
|
debt obligations issued by each local government, based on a fiscal |
|
|
year ending August 31. The database must be searchable by zip code |
|
|
and must include the: |
|
|
(1) specific debt issued by each local government and |
|
|
the principal, interest, and payments on the debt; |
|
|
(2) total principal, interest, and payments on all |
|
|
debt issued by each local government; and |
|
|
(3) total principal, interest, and payments on all |
|
|
debt issued by local governments in each zip code. |
|
|
SECTION 2. The Bond Review Board shall establish the |
|
|
searchable database required by Section 1231.024, Government Code, |
|
|
as added by this Act, not later than September 1, 2012. |
|
|
SECTION 3. This Act takes effect September 1, 2011. |