By: Carona S.B. No. 2462
A BILL TO BE ENTITLED
AN ACT
relating to the powers and duties of the Falcon's Lair Utility and
Reclamation District relating to the issuance of bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 19, Chapter 935, Acts of the 69th
Legislature, Regular Session, 1985, is amended by amending
Subsection (d) and adding Subsection (f) to read as follows:
(d) For the payment of all or part of the costs of an
improvement project or services under Section 20A of this Act, the
board may issue bonds in one or more series payable from and secured
by ad valorem taxes, assessments, impact fees, revenues, payments
pursuant to an agreement made under Section 311.010(b), Tax Code,
dedicating revenue from a tax increment fund, grants, gifts,
contracts, or leases or any combination of those funds. Bonds may
be liens on all or part of the revenue derived from improvements
authorized under Section 20A of this Act, including installment
payments of special assessments or from any other source pledged to
their payment.
(f) Sections 49.181 and 49.182, Water Code, do not apply to:
(1) bonds issued by the district and payable from:
(A) assessments imposed by the district under
Section 20A of this Act that are paid in full on the first
conveyance of land after imposition of the assessment; or
(B) payments pursuant to an agreement made under
Section 311.010(b), Tax Code, dedicating revenue from a tax
increment fund; or
(2) a project that is financed by an issuance of bonds
described by Subdivision (1) of this subsection.
SECTION 2. (a) Any act or proceeding of the Falcon's Lair
Utility and Reclamation District, including an election, not
excepted by this section and taken before the effective date of this
Act, is validated and confirmed in all respects as of the date on
which the act or proceeding occurred.
(b) This section does not apply to:
(1) an act, proceeding, director, other official,
bond, or other obligation the validity of which or of whom is the
subject of litigation that is pending on the effective date of this
Act; or
(2) an act or proceeding that, under a statute of this
state or the United States, was a misdemeanor or felony at the time
the act or proceeding occurred.
SECTION 3. (a) Section 19, Chapter 935, Acts of the 69th
Legislature, Regular Session, 1985, as amended by this Act, applies
to bonds issued by the Falcon's Lair Utility and Reclamation
District on or after the effective date of this Act, regardless of
whether an application for bond approval from the Texas Commission
on Environmental Quality is pending on the effective date of this
Act. Bonds issued by the district before the effective date of this
Act are governed by the law in effect on the date the bonds were
issued, and that law is continued in effect for that purpose.
(b) Section 19, Chapter 935, Acts of the 69th Legislature,
Regular Session, 1985, as amended by this Act, applies only to the
construction of a project by the Falcon's Lair Utility and
Reclamation District that commences on or after the effective date
of this Act. Construction of a district project that commenced
before the effective date of this Act is governed by the law in
effect on the date the construction commenced, and that law is
continued in effect for that purpose.
SECTION 4. (a) The legal notice of the intention to
introduce this Act, setting forth the general substance of this
Act, has been published as provided by law, and the notice and a
copy of this Act have been furnished to all persons, agencies,
officials, or entities to which they are required to be furnished
under Section 59, Article XVI, Texas Constitution, and Chapter 313,
Government Code.
(b) The governor, one of the required recipients, has
submitted the notice and Act to the Texas Commission on
Environmental Quality.
(c) The Texas Commission on Environmental Quality has filed
its recommendations relating to this Act with the governor, the
lieutenant governor, and the speaker of the house of
representatives within the required time.
(d) All requirements of the constitution and laws of this
state and the rules and procedures of the legislature with respect
to the notice, introduction, and passage of this Act are fulfilled
and accomplished.
SECTION 5. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2009.