Texas 2009 - 81st Regular

Texas Senate Bill SB1952 Compare Versions

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1	1	S.B. No. 1952
2	2
3	3
4	4	AN ACT
5	5	relating to the authorization of certain municipalities and
6	6	counties to issue public securities for the financing of permanent
7	7	improvements for use by an institution of higher education.
8	8	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
9	9	SECTION 1. Section 1434.001, Government Code, is amended to
10	10	read as follows:
11	11	Sec. 1434.001. APPLICABILITY OF CHAPTER. This chapter
12	12	applies only to:
13	13	(1) a home-rule municipality with a population of
14	14	25,000 or more that has an [a general academic teaching]
15	15	institution of higher education located within its boundaries or
16	16	has entered into an agreement with an institution of higher
17	17	education relating to the provision of services in furtherance of
18	18	the completion of certificate programs, degree programs, or other
19	19	higher education programs within the municipality by the
20	20	institution of higher education; or
21	21	(2) a county within which a municipality described by
22	22	Subdivision (1) is located.
23	23	SECTION 2. Section 1434.002, Government Code, is amended to
24	24	read as follows:
25	25	Sec. 1434.002. DEFINITIONS. In this chapter:
26	26	(1) "Agreement" includes a lease, contract, or
27	27	lease-purchase agreement.
28	28	(2) "Institution of higher education" means:
29	29	(A) an institution of higher education as defined
30	30	by Section 61.003, Education Code, other than a public junior
31	31	college; or
32	32	(B) a private, nonprofit institution of higher
33	33	education that is accredited by the recognized accrediting agency
34	34	and is located and authorized to operate in this state, other than a
35	35	private institution of higher education operated exclusively for
36	36	sectarian purposes.
37	37	(3) [(2)] "Public security" has the meaning assigned
38	38	by Section 1201.002.
39	39	(4) [(3)] "Recognized accrediting agency" has the
40	40	meaning assigned by Section 61.003, Education Code.
41	41	SECTION 3. Section 1434.003, Government Code, is amended to
42	42	read as follows:
43	43	Sec. 1434.003. LEGISLATIVE FINDING. The legislature finds:
44	44	(1) that the assistance provided by counties and
45	45	municipalities in promoting and providing higher education
46	46	opportunities for residents of this state will benefit and enhance
47	47	the general welfare of their residents by providing new and
48	48	alternative higher education resources and enhanced access to those
49	49	resources, improving and enhancing the educational opportunities
50	50	of their residents, and allowing the completion of certificate
51	51	programs, degree programs, and other higher education programs
52	52	locally; and
53	53	(2) that those benefits and enhancements constitute
54	54	public purposes for counties and municipalities [encourage the
55	55	development and diversification of the economy of this state and
56	56	the elimination of unemployment and underemployment in this state].
57	57	SECTION 4. Section 1434.051, Government Code, is amended by
58	58	adding Subsection (a-1) to read as follows:
59	59	(a-1) A municipality that has entered into an agreement
60	60	described by Section 1434.001(1) may:
61	61	(1) issue public securities, including certificates
62	62	of obligation, to acquire, construct, or improve land, buildings,
63	63	or other permanent improvements for use by an institution of higher
64	64	education;
65	65	(2) impose ad valorem taxes to pay and secure payment
66	66	of the principal of and interest on those securities and to provide
67	67	a sinking fund; and
68	68	(3) pledge those taxes, any portion of the revenues
69	69	received in connection with the agreement, or any combination of
70	70	the taxes and revenue to secure payment of any portion of the public
71	71	securities issued to acquire, construct, or improve the land,
72	72	buildings, or other permanent improvements for use by the
73	73	institution of higher education.
74	74	SECTION 5. Any notice published by a municipality
75	75	indicating the intent of the municipality to issue certificates of
76	76	obligation in accordance with Subchapter C, Chapter 271, Local
77	77	Government Code, for a purpose authorized by this Act is effective
78	78	in accordance with its terms without regard to whether the notice
79	79	was published before the effective date of this Act.
80	80	SECTION 6. This Act takes effect immediately if it receives
81	81	a vote of two-thirds of all the members elected to each house, as
82	82	provided by Section 39, Article III, Texas Constitution. If this
83	83	Act does not receive the vote necessary for immediate effect, this
84	84	Act takes effect September 1, 2009.
85	85	______________________________ ______________________________
86	86	President of the Senate Speaker of the House
87	87	I hereby certify that S.B. No. 1952 passed the Senate on
88	88	April 16, 2009, by the following vote: Yeas 31, Nays 0.
89	89	______________________________
90	90	Secretary of the Senate
91	91	I hereby certify that S.B. No. 1952 passed the House on
92	92	May 15, 2009, by the following vote: Yeas 144, Nays 0, one
93	93	present not voting.
94	94	______________________________
95	95	Chief Clerk of the House
96	96	Approved:
97	97	______________________________
98	98	Date
99	99	______________________________
100	100	Governor