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A BILL TO BE ENTITLED
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AN ACT
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relating to the validation of the dissolution of the Development |
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Corporation of Presidio and creation of the Presidio Municipal |
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Development District. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. (a) The legislature validates and confirms: |
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(1) the dissolution of the Development Corporation of |
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Presidio, a Type B economic development corporation, and creation |
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of the Presidio Municipal Development District as of the date of the |
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election held on November 6, 2012, at which the voters of the City |
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of Presidio and its extraterritorial jurisdiction approved both the |
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dissolution of the economic development corporation and creation of |
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the district and replaced the dedicated sales and use tax for |
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benefit of the economic development corporation with a dedicated |
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sales and use tax for the benefit of the district; and |
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(2) the levy of a sales and use tax of one-half of one |
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percent within the boundaries of the Presidio Municipal Development |
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District for the purpose of financing development projects |
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beneficial to the district that occurred before the effective date |
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of this Act. |
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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, 2013. |