Texas 2009 - 81st Regular

Texas House Bill HB878 Compare Versions

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1	1	H.B. No. 878
2	2
3	3
4	4	AN ACT
5	5	relating to the Sweeny Hospital District.
6	6	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
7	7	SECTION 1. Section 4, Chapter 135, Acts of the 58th
8	8	Legislature, Regular Session, 1963, is amended to read as follows:
9	9	Sec. 4. The management and control of the [each hospital]
10	10	district [created pursuant to the provisions of this Act] is hereby
11	11	vested in the board of directors of the district who shall serve
12	12	without compensation but may be reimbursed for actual expenses
13	13	incurred in the performance of their official duties upon the
14	14	approval of such expenses by the entire board of directors.
15	15	SECTION 2. Chapter 135, Acts of the 58th Legislature,
16	16	Regular Session, 1963, is amended by adding Sections 6A and 6B to
17	17	read as follows:
18	18	Sec. 6A. In addition to the authority to issue general
19	19	obligation bonds and revenue bonds under this Act, the board may
20	20	provide for the security and payment of district bonds from a pledge
21	21	of a combination of ad valorem taxes as authorized by Section 6(a)
22	22	of this Act and revenue and other sources as authorized by Section
23	23	6(e) of this Act.
24	24	Sec. 6B. The district may use the proceeds of bonds issued
25	25	under this Act to pay:
26	26	(1) any expense the board determines is reasonable and
27	27	necessary to issue, sell, and deliver the bonds;
28	28	(2) interest payments on the bonds during a period of
29	29	acquisition or construction of a project or facility to be provided
30	30	through the bonds, not to exceed five years;
31	31	(3) costs related to the operation and maintenance of
32	32	a project or facility to be provided through the bonds:
33	33	(A) during an estimated period of acquisition or
34	34	construction, not to exceed five years; and
35	35	(B) for one year after the project or facility is
36	36	acquired or constructed;
37	37	(4) costs related to the financing of the bond funds,
38	38	including debt service reserve and contingency funds;
39	39	(5) costs related to the bond issuance;
40	40	(6) costs related to the acquisition of land or
41	41	interests in land for a project or facility to be provided through
42	42	the bonds; and
43	43	(7) costs of construction of a project or facility to
44	44	be provided through the bonds, including the payment of related
45	45	professional services and expenses.
46	46	SECTION 3. Chapter 135, Acts of the 58th Legislature,
47	47	Regular Session, 1963, is amended by adding Section 7B to read as
48	48	follows:
49	49	Sec. 7B. (a) The board may borrow money at a rate not to
50	50	exceed the maximum annual percentage rate allowed by law for
51	51	district obligations at the time the loan is made.
52	52	(b) To secure a loan, the board may pledge:
53	53	(1) district revenue that is not pledged to pay the
54	54	district's bonded indebtedness;
55	55	(2) a district tax to be imposed by the district during
56	56	the 12-month period following the date of the pledge that is not
57	57	pledged to pay the principal of or interest on district bonds; or
58	58	(3) a district bond that has been authorized but not
59	59	sold.
60	60	(c) A loan for which taxes or bonds are pledged must mature
61	61	not later than the first anniversary of the date the loan is made. A
62	62	loan for which district revenue is pledged must mature not later
63	63	than the fifth anniversary of the date the loan is made.
64	64	SECTION 4. This Act takes effect immediately if it receives
65	65	a vote of two-thirds of all the members elected to each house, as
66	66	provided by Section 39, Article III, Texas Constitution. If this
67	67	Act does not receive the vote necessary for immediate effect, this
68	68	Act takes effect September 1, 2009.
69	69	______________________________ ______________________________
70	70	President of the Senate Speaker of the House
71	71	I certify that H.B. No. 878 was passed by the House on May 5,
72	72	2009, by the following vote: Yeas 144, Nays 0, 1 present, not
73	73	voting.
74	74	______________________________
75	75	Chief Clerk of the House
76	76	I certify that H.B. No. 878 was passed by the Senate on May
77	77	26, 2009, by the following vote: Yeas 31, Nays 0.
78	78	______________________________
79	79	Secretary of the Senate
80	80	APPROVED: _____________________
81	81	Date
82	82	_____________________
83	83	Governor