Texas 2009 - 81st Regular

Texas House Bill HB2994 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. 2994
2	2
3	3
4	4	AN ACT
5	5	relating to the powers and duties of the Reagan Hospital District.
6	6	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
7	7	SECTION 1. Chapter 29, Acts of the 65th Legislature,
8	8	Regular Session, 1977, is amended by adding Section 7A to read as
9	9	follows:
10	10	Sec. 7A. (a) The board may borrow money at a rate not to
11	11	exceed the maximum annual percentage rate allowed by law for
12	12	district obligations at the time the loan is made.
13	13	(b) To secure a loan, the board may pledge:
14	14	(1) district revenue that is not pledged to pay the
15	15	district's bonded indebtedness;
16	16	(2) a district tax to be imposed by the district during
17	17	the 12-month period following the date of the pledge that is not
18	18	pledged to pay the principal of or interest on district bonds; or
19	19	(3) a district bond that has been authorized but not
20	20	sold.
21	21	(c) A loan for which taxes or bonds are pledged must mature
22	22	not later than the first anniversary of the date the loan is made. A
23	23	loan for which district revenue is pledged must mature not later
24	24	than the fifth anniversary of the date the loan is made.
25	25	SECTION 2. Chapter 29, Acts of the 65th Legislature,
26	26	Regular Session, 1977, is amended by adding Sections 9A and 9B to
27	27	read as follows:
28	28	Sec. 9A. In addition to the authority to issue general
29	29	obligation bonds and revenue bonds under this Act, the board may
30	30	provide for the security and payment of district bonds from a pledge
31	31	of a combination of ad valorem taxes as authorized by Section 8 of
32	32	this Act and revenue and other sources as authorized by Section 9 of
33	33	this Act.
34	34	Sec. 9B. The district may use the proceeds of bonds issued
35	35	under this Act to pay:
36	36	(1) any expense the board determines is reasonable and
37	37	necessary to issue, sell, and deliver the bonds;
38	38	(2) interest payments on the bonds during a period of
39	39	acquisition or construction of a project or facility to be provided
40	40	through the bonds, not to exceed five years;
41	41	(3) costs related to the operation and maintenance of
42	42	a project or facility to be provided through the bonds:
43	43	(A) during an estimated period of acquisition or
44	44	construction, not to exceed five years; and
45	45	(B) for one year after the project or facility is
46	46	acquired or constructed;
47	47	(4) costs related to the financing of the bond funds,
48	48	including debt service reserve and contingency funds;
49	49	(5) costs related to the bond issuance;
50	50	(6) costs related to the acquisition of land or
51	51	interests in land for a project or facility to be provided through
52	52	the bonds; and
53	53	(7) costs of construction of a project or facility to
54	54	be provided through the bonds, including the payment of related
55	55	professional services and expenses.
56	56	SECTION 3. This Act takes effect immediately if it receives
57	57	a vote of two-thirds of all the members elected to each house, as
58	58	provided by Section 39, Article III, Texas Constitution. If this
59	59	Act does not receive the vote necessary for immediate effect, this
60	60	Act takes effect September 1, 2009.
61	61	______________________________ ______________________________
62	62	President of the Senate Speaker of the House
63	63	I certify that H.B. No. 2994 was passed by the House on May 7,
64	64	2009, by the following vote: Yeas 145, Nays 1, 1 present, not
65	65	voting.
66	66	______________________________
67	67	Chief Clerk of the House
68	68	I certify that H.B. No. 2994 was passed by the Senate on May
69	69	26, 2009, by the following vote: Yeas 31, Nays 0.
70	70	______________________________
71	71	Secretary of the Senate
72	72	APPROVED: _____________________
73	73	Date
74	74	_____________________
75	75	Governor