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A BILL TO BE ENTITLED
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AN ACT
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relating to ballot propositions authorizing certain political |
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subdivisions to issue bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 1251, Government Code, is amended by |
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designating Sections 1251.001, 1251.002, 1251.003, 1251.004, |
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1251.005, and 1251.006 as Subchapter A and adding a heading to |
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Subchapter A to read as follows: |
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SUBCHAPTER A. COUNTIES AND MUNICIPALITIES |
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SECTION 2. Chapter 1251, Government Code, is amended by |
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adding Subchapter B to read as follows: |
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SUBCHAPTER B. BOND MATTERS AFFECTING MORE THAN ONE TYPE OF |
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POLITICAL SUBDIVISION |
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Sec. 1251.051. DEFINITIONS. In this subchapter: |
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(1) "Debt obligation" means an issued public security, |
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as defined by Section 1201.002. |
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(2) "Political subdivision" means a county, |
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municipality, school district, junior college district, other |
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special district, or other subdivision of state government. |
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Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The |
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proposition submitted for an election to authorize a political |
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subdivision to issue bonds must distinctly state: |
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(1) as a total amount and as a per capita amount: |
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(A) the then-current principal of all |
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outstanding debt obligations of the political subdivision; |
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(B) the then-current combined principal and |
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interest required to pay all outstanding debt obligations of the |
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political subdivision on time and in full; |
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(C) the principal of the bonds to be authorized; |
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and |
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(D) the estimated combined principal and |
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interest required to pay the bonds to be authorized on time and in |
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full; |
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(2) the purpose for which the bonds are to be |
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authorized; |
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(3) the estimated rate of interest for the bonds to be |
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authorized; and |
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(4) the maturity date of the bonds to be authorized. |
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(b) The requirements for a proposition prescribed by this |
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section are in addition to any other requirements prescribed by |
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law. To the extent of a conflict between this section and Section |
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52.072, Election Code, this section controls. |
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Sec. 1251.053. ONLINE SAMPLE BALLOT. A sample of the ballot |
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printed for an election to authorize a political subdivision to |
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issue bonds must be posted on the political subdivision's Internet |
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website as soon as practicable after the official ballots have been |
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prepared and must remain posted until the day following the |
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election. |
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Sec. 1251.054. FORM OF BALLOT. The secretary of state shall |
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prescribe a form of the ballot for an election held under this |
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subchapter. A political subdivision is not required to use the |
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form. |
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SECTION 3. (a) Sections 1251.052 and 1251.053, Government |
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Code, as added by this Act, apply only to a bond election ordered on |
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or after the effective date of this Act. A bond election ordered |
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before the effective date of this Act is governed by the law in |
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effect when the bond election was ordered, and the former law is |
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continued in effect for that purpose. |
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(b) Not later than January 1, 2014, the secretary of state |
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shall make available on the secretary of state's Internet website a |
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form of the ballot described by Section 1251.054, Government Code, |
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as added by this Act. |
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SECTION 4. This Act takes effect September 1, 2013. |