H.B. No. 4540
AN ACT
relating to disposition of proceeds from the development or sale of
the rights to natural resources or minerals in land held by Webb
County for the county permanent school fund.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter E, Chapter 45, Education Code, is
amended by adding Section 45.114 to read as follows:
Sec. 45.114. DEVELOPMENT OR SALE OF RIGHTS TO NATURAL
RESOURCES OR MINERALS IN LAND HELD FOR COUNTY PERMANENT SCHOOL FUND
BY WEBB COUNTY. Notwithstanding former Subchapter E, Chapter 17,
as that subchapter existed on May 1, 1995, the Commissioners Court
of Webb County may:
(1) develop or sell the rights to natural resources or
minerals in lands held in trust by Webb County under Section 6,
Article VII, Texas Constitution; and
(2) enter into an agreement described by Section
6(b)(2), Article VII, Texas Constitution.
SECTION 2. This Act takes effect December 1, 2009, but only
if the constitutional amendment proposed by H.J.R. No. 142, 81st
Legislature, Regular Session, 2009, is approved by the voters. If
that amendment is not approved, this Act has no effect.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 4540 was passed by the House on April
15, 2009, by the following vote: Yeas 147, Nays 0, 1 present, not
voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 4540 was passed by the Senate on May
22, 2009, by the following vote: Yeas 30, Nays 0.
______________________________
Secretary of the Senate
APPROVED: _____________________
Date
_____________________
Governor