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A BILL TO BE ENTITLED
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AN ACT
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relating to the purposes for which a municipality or county may |
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issue an anticipation note or certificate of obligation. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 1431.001, Government Code, is amended by |
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adding Subdivision (6) to read as follows: |
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(6) "Public work" for an issuer that is a municipality |
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or county has the meaning assigned by Section 271.043, Local |
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Government Code. |
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SECTION 2. Section 271.043, Local Government Code, is |
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amended by adding Subdivision (7-a) to read as follows: |
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(7-a) "Public work" for an issuer that is a |
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municipality or county: |
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(A) means any of the following public |
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improvements as authorized by law: |
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(i) a street, road, highway, bridge, |
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sidewalk, or parking structure; |
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(ii) a landfill; |
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(iii) an airport; |
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(iv) a utility system, water supply |
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project, water treatment plant, wastewater treatment plant, or |
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water or wastewater conveyance facility; |
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(v) a wharf or dock; |
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(vi) a flood control and drainage project; |
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(vii) a public safety facility, including a |
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police station, fire station, emergency shelter, jail, or juvenile |
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detention facility; |
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(viii) a judicial facility; |
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(ix) an administrative office building |
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housing the governmental functions of the municipality or county; |
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(x) an animal shelter; |
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(xi) a library; or |
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(xii) a park or recreation facility that is |
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generally accessible to the public and is part of the municipal or |
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county park system; and |
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(B) does not include: |
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(i) a facility for professional or |
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semi-professional sports; |
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(ii) a stadium, arena, civic center, |
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convention center, or coliseum; or |
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(iii) a hotel. |
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SECTION 3. The changes in law made by this Act apply only to |
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an anticipation note or certificate of obligation issued on or |
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after the effective date of this Act. |
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SECTION 4. This Act takes effect September 1, 2023. |