Texas 2009 - 81st Regular

Texas House Bill HB1686 Compare Versions

The same version is selected twice. Please select two different versions to compare.

Version 1 (Old)

Version 2 (New)

Old	New	Differences
1	1	H.B. No. 1686
2	2
3	3
4	4	AN ACT
5	5	relating to the Muenster Hospital District.
6	6	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
7	7	SECTION 1. Chapter 477, Acts of the 59th Legislature,
8	8	Regular Session, 1965, is amended by adding Sections 9A and 9B to
9	9	read as follows:
10	10	Sec. 9A. In addition to the authority to issue general
11	11	obligation bonds and revenue bonds under this Act, the Board may
12	12	provide for the security and payment of District bonds from a pledge
13	13	of a combination of ad valorem taxes as authorized by Section 9 of
14	14	this Act and revenue and other sources authorized by Section 7 of
15	15	this Act.
16	16	Sec. 9B. The District may use the proceeds of bonds issued
17	17	under this Act to pay:
18	18	(1) any expense the Board determines is reasonable and
19	19	necessary to issue, sell, and deliver the bonds;
20	20	(2) interest payments on the bonds during a period of
21	21	acquisition or construction of a project or facility to be provided
22	22	through the bonds, not to exceed five years;
23	23	(3) costs related to the operation and maintenance of
24	24	a project or facility to be provided through the bonds:
25	25	(A) during an estimated period of acquisition or
26	26	construction, not to exceed five years; and
27	27	(B) for one year after the project or facility is
28	28	acquired or constructed;
29	29	(4) costs related to the financing of the bond funds,
30	30	including debt service reserve and contingency funds;
31	31	(5) costs related to the bond issuance;
32	32	(6) costs related to the acquisition of land or
33	33	interests in land for a project or facility to be provided through
34	34	the bonds; and
35	35	(7) costs of construction of a project or facility to
36	36	be provided through the bonds, including the payment of related
37	37	professional services and expenses.
38	38	SECTION 2. Section 20a(a), Chapter 477, Acts of the 59th
39	39	Legislature, Regular Session, 1965, is amended to read as follows:
40	40	Sec. 20a. (a) The [If the Board of Directors declares that
41	41	funds are not available to meet the lawfully authorized obligations
42	42	of the District and that an emergency exists, the] Board may borrow
43	43	money at a rate not to exceed the maximum annual percentage rate
44	44	allowed by law for District obligations at the time of the loan.
45	45	SECTION 3. Section 20a(d), Chapter 477, Acts of the 59th
46	46	Legislature, Regular Session, 1965, is repealed.
47	47	SECTION 4. This Act takes effect immediately if it receives
48	48	a vote of two-thirds of all the members elected to each house, as
49	49	provided by Section 39, Article III, Texas Constitution. If this
50	50	Act does not receive the vote necessary for immediate effect, this
51	51	Act takes effect September 1, 2009.
52	52	______________________________ ______________________________
53	53	President of the Senate Speaker of the House
54	54	I certify that H.B. No. 1686 was passed by the House on May
55	55	15, 2009, by the following vote: Yeas 144, Nays 0, 1 present, not
56	56	voting.
57	57	______________________________
58	58	Chief Clerk of the House
59	59	I certify that H.B. No. 1686 was passed by the Senate on May
60	60	27, 2009, by the following vote: Yeas 31, Nays 0.
61	61	______________________________
62	62	Secretary of the Senate
63	63	APPROVED: _____________________
64	64	Date
65	65	_____________________
66	66	Governor