| 1 | 1 | | 81R6839 NC-F |
|---|
| 2 | 2 | | By: Averitt S.B. No. 2227 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to authorizing the issuance of bonds for the reimbursement |
|---|
| 8 | 8 | | of the cost of public improvements located in public improvement |
|---|
| 9 | 9 | | districts in certain counties. |
|---|
| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 11 | 11 | | SECTION 1. Chapter 372, Local Government Code, is amended |
|---|
| 12 | 12 | | by adding Subchapter D to read as follows: |
|---|
| 13 | 13 | | SUBCHAPTER D. REIMBURSEMENT FOR PUBLIC IMPROVEMENTS IN CERTAIN |
|---|
| 14 | 14 | | COUNTIES |
|---|
| 15 | 15 | | Sec. 372.151. APPLICABILITY. This subchapter applies only |
|---|
| 16 | 16 | | to a county that: |
|---|
| 17 | 17 | | (1) contains no municipality with a population of more |
|---|
| 18 | 18 | | than 50,000; and |
|---|
| 19 | 19 | | (2) is adjacent to at least two counties, each with a |
|---|
| 20 | 20 | | population of more than one million. |
|---|
| 21 | 21 | | Sec. 372.152. ISSUANCE OF BONDS TO REIMBURSE ACQUIRED |
|---|
| 22 | 22 | | PUBLIC IMPROVEMENTS. (a) The governing body of a municipality or |
|---|
| 23 | 23 | | county may issue and sell general obligation bonds or revenue bonds |
|---|
| 24 | 24 | | to reimburse a developer for the cost of a public improvement if: |
|---|
| 25 | 25 | | (1) the public improvement is located in a public |
|---|
| 26 | 26 | | improvement district created on or after January 1, 2005; |
|---|
| 27 | 27 | | (2) the public improvement has been dedicated to and |
|---|
| 28 | 28 | | accepted by the municipality or county; and |
|---|
| 29 | 29 | | (3) before the public improvement was dedicated to and |
|---|
| 30 | 30 | | accepted by the municipality or county, the governing body of the |
|---|
| 31 | 31 | | municipality or county entered into an agreement with the developer |
|---|
| 32 | 32 | | to pay for the public improvement. |
|---|
| 33 | 33 | | (b) General obligation bonds or revenue bonds issued under |
|---|
| 34 | 34 | | this subchapter must comply with the provisions relating to general |
|---|
| 35 | 35 | | obligation bonds or revenue bonds issued under Subchapter A. |
|---|
| 36 | 36 | | SECTION 2. This Act takes effect immediately if it receives |
|---|
| 37 | 37 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 38 | 38 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 39 | 39 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 40 | 40 | | Act takes effect September 1, 2009. |
|---|