| 1 | 1 | | H.B. No. 4704 |
|---|
| 2 | 2 | | |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | AN ACT |
|---|
| 5 | 5 | | relating to the Starr County Hospital District. |
|---|
| 6 | 6 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 7 | 7 | | SECTION 1. Chapter 118, Acts of the 63rd Legislature, |
|---|
| 8 | 8 | | Regular Session, 1973, is amended by adding Section 5B to read as |
|---|
| 9 | 9 | | follows: |
|---|
| 10 | 10 | | Sec. 5B. (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. This Act takes effect immediately if it receives |
|---|
| 26 | 26 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 27 | 27 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 28 | 28 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 29 | 29 | | Act takes effect September 1, 2009. |
|---|
| 30 | 30 | | ______________________________ ______________________________ |
|---|
| 31 | 31 | | President of the Senate Speaker of the House |
|---|
| 32 | 32 | | I certify that H.B. No. 4704 was passed by the House on May |
|---|
| 33 | 33 | | 15, 2009, by the following vote: Yeas 144, Nays 0, 1 present, not |
|---|
| 34 | 34 | | voting. |
|---|
| 35 | 35 | | ______________________________ |
|---|
| 36 | 36 | | Chief Clerk of the House |
|---|
| 37 | 37 | | I certify that H.B. No. 4704 was passed by the Senate on May |
|---|
| 38 | 38 | | 27, 2009, by the following vote: Yeas 31, Nays 0. |
|---|
| 39 | 39 | | ______________________________ |
|---|
| 40 | 40 | | Secretary of the Senate |
|---|
| 41 | 41 | | APPROVED: _____________________ |
|---|
| 42 | 42 | | Date |
|---|
| 43 | 43 | | _____________________ |
|---|
| 44 | 44 | | Governor |
|---|