| 1 | 1 | | H.B. No. 2708 |
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| 2 | 2 | | |
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| 3 | 3 | | |
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| 4 | 4 | | AN ACT |
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| 5 | 5 | | relating to the powers of the Karnes County Hospital District. |
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| 6 | 6 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 7 | 7 | | SECTION 1. Subchapter D, Chapter 1048, Special District |
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| 8 | 8 | | Local Laws Code, as effective April 1, 2009, is amended by adding |
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| 9 | 9 | | Section 1048.161 to read as follows: |
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| 10 | 10 | | Sec. 1048.161. GENERAL AUTHORITY TO BORROW MONEY; SECURITY. |
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| 11 | 11 | | (a) The board may borrow money at a rate not to exceed the maximum |
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| 12 | 12 | | annual percentage rate allowed by law for district obligations at |
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| 13 | 13 | | the time the loan is made. |
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| 14 | 14 | | (b) To secure a loan, the board may pledge: |
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| 15 | 15 | | (1) district revenue that is not pledged to pay the |
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| 16 | 16 | | district's bonded indebtedness; |
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| 17 | 17 | | (2) a district tax to be imposed by the district in the |
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| 18 | 18 | | next 12-month period following the date of the pledge that is not |
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| 19 | 19 | | pledged to pay the principal of or interest on district bonds; or |
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| 20 | 20 | | (3) a district bond that has been authorized but not |
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| 21 | 21 | | sold. |
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| 22 | 22 | | (c) A loan for which taxes or bonds are pledged must mature |
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| 23 | 23 | | not later than the first anniversary of the date the loan is made. A |
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| 24 | 24 | | loan for which district revenue is pledged must mature not later |
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| 25 | 25 | | than the fifth anniversary of the date the loan is made. |
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| 26 | 26 | | SECTION 2. This Act takes effect immediately if it receives |
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| 27 | 27 | | a vote of two-thirds of all the members elected to each house, as |
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| 28 | 28 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 29 | 29 | | Act does not receive the vote necessary for immediate effect, this |
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| 30 | 30 | | Act takes effect September 1, 2009. |
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| 31 | 31 | | ______________________________ ______________________________ |
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| 32 | 32 | | President of the Senate Speaker of the House |
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| 33 | 33 | | I certify that H.B. No. 2708 was passed by the House on May |
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| 34 | 34 | | 15, 2009, by the following vote: Yeas 144, Nays 0, 1 present, not |
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| 35 | 35 | | voting. |
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| 36 | 36 | | ______________________________ |
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| 37 | 37 | | Chief Clerk of the House |
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| 38 | 38 | | I certify that H.B. No. 2708 was passed by the Senate on May |
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| 39 | 39 | | 27, 2009, by the following vote: Yeas 31, Nays 0. |
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| 40 | 40 | | ______________________________ |
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| 41 | 41 | | Secretary of the Senate |
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| 42 | 42 | | APPROVED: _____________________ |
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| 43 | 43 | | Date |
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| 44 | 44 | | _____________________ |
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| 45 | 45 | | Governor |
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