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Legislature, Regular Session, 1965, is repealed.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