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A BILL TO BE ENTITLED
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AN ACT
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relating to financing of recreational facilities by the Charterwood |
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Municipal Utility District of Harris County; providing authority to |
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issue bonds. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subtitle F, Title 6, Special District Local Laws |
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Code, is amended by adding Chapter 8054 to read as follows: |
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CHAPTER 8054. CHARTERWOOD MUNICIPAL UTILITY DISTRICT OF HARRIS |
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COUNTY |
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SUBCHAPTER A. GENERAL PROVISIONS |
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Sec. 8054.0101. DEFINITIONS. In this chapter: |
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(1) "District" means the Charterwood Municipal |
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Utility District of Harris County. |
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(2) "Recreational facilities" has the meaning |
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assigned by Section 49.462, Water Code. |
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SUBCHAPTER B. BONDS AND OTHER OBLIGATIONS |
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Sec. 8054.0201. BONDS FOR RECREATIONAL FACILITIES. (a) |
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The limitation on the outstanding principal amount of bonds, notes, |
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and other obligations provided by Section 49.4645(a), Water Code, |
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does not apply to the district. |
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(b) The outstanding principal amount of bonds, notes, and |
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other obligations issued to finance recreational facilities |
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supported by ad valorem taxes may not exceed: |
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(1) an amount equal to three percent of the value of |
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the taxable property in the district; or |
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(2) if supported by contract taxes under Section |
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49.108, Water Code, an amount equal to three percent of the value of |
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the taxable property in the districts making payments under the |
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contract. |
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(c) The amounts described by Subsection (b) are calculated |
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based on the tax rolls of the central appraisal districts at the |
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time of the issuance of the bonds, notes, and other obligations. |
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SECTION 2. (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 3. This Act takes effect September 1, 2019. |