Texas 2011 - 82nd Regular

Texas House Bill HB1551 Compare Versions

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1	1	By: Aycock (Senate Sponsor - Fraser) H.B. No. 1551
2	2	(In the Senate - Received from the House March 31, 2011;
3	3	April 13, 2011, read first time and referred to Committee on
4	4	Natural Resources; April 27, 2011, reported favorably by the
5	5	following vote: Yeas 10, Nays 0; April 27, 2011, sent to printer.)
6	6
7	7
8	8	A BILL TO BE ENTITLED
9	9	AN ACT
10	10	relating to the power of the Bell County Water Control and
11	11	Improvement District No. 1 to issue bonds.
12	12	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
13	13	SECTION 1. Section 9005.102, Special District Local Laws
14	14	Code, is amended to read as follows:
15	15	Sec. 9005.102. AUTHORITY TO ISSUE BONDS. (a) The district
16	16	may issue bonds for the purpose of purchasing, constructing,
17	17	acquiring, owning, operating, repairing, improving, enlarging, or
18	18	extending any district works, improvements, facilities, plants,
19	19	equipment, and appliances needed or useful to accomplish or carry
20	20	out the purposes, powers, functions, or obligations of the
21	21	district, including works, improvements, facilities, plants,
22	22	equipment, and appliances needed to provide a waterworks system,
23	23	sanitary sewer system, storm sewer system, or solid waste disposal
24	24	system. [In this section, "district property" means the district's
25	25	improvements, including property operated by the district under a
26	26	lease.]
27	27	(b) To provide for the payment of bonds issued under this
28	28	section, the [The] district may:
29	29	(1) impose ad valorem taxes on all taxable property in
30	30	the district;
31	31	(2) pledge all or any part of revenue available to the
32	32	district from any source, including all or part of the revenue:
33	33	(A) resulting from the ownership or operation of
34	34	the district's works, improvements, facilities, plants, equipment,
35	35	and appliances; or
36	36	(B) available under specific contracts for a
37	37	period of time the district determines; or
38	38	(3) pledge any combination of the sources of taxes or
39	39	revenue described by Subdivisions (1) and (2) [may call a bond
40	40	election and issue bonds in the manner and for the purposes provided
41	41	in Chapters 49 and 51, Water Code. In addition to the purposes
42	42	under those chapters, the district may vote on and issue bonds to:
43	43	[(1) acquire materials, supplies, equipment, and
44	44	other property needed or useful to maintain district property; and
45	45	[(2) extend, enlarge, improve, or repair district
46	46	property].
47	47	(c) Bonds secured by and payable solely from revenue under
48	48	Subsection (b)(2):
49	49	(1) may be issued without an election; and
50	50	(2) are not subject to Section 49.181, Water Code [If
51	51	bonds are voted on and issued in connection with property to be
52	52	operated by the district under lease, the engineer's report must
53	53	include a summary of the proposed expenditures of the bond
54	54	proceeds].
55	55	(d) The district must hold an election in the manner
56	56	provided by Chapters 49 and 51, Water Code, to obtain voter approval
57	57	before the district may impose an ad valorem tax or issue bonds
58	58	payable from ad valorem taxes.
59	59	(e) The district may exercise any of the rights or powers
60	60	granted to the governing body of an issuer under Chapter 1371,
61	61	Government Code.
62	62	(f) This section is wholly sufficient authority for the
63	63	issuance of bonds, the pledge of revenues, taxes, or any
64	64	combination of revenues and taxes, and the performance of other
65	65	acts and procedures authorized by this section by the district
66	66	without reference to any other provision of law or any restriction
67	67	or limitation contained in those provisions, except as specifically
68	68	provided by this section.
69	69	(g) To the extent of any conflict or inconsistency between
70	70	this section and any other law, this section controls.
71	71	(h) The district may use any law not in conflict with this
72	72	section to the extent convenient or necessary to carry out any power
73	73	or authority, express or implied, granted by this section.
74	74	SECTION 2. The changes in law made by this Act apply only to
75	75	a bond issued by the Bell County Water Control and Improvement
76	76	District No. 1 on or after the effective date of this Act. A bond
77	77	issued by the Bell County Water Control and Improvement District
78	78	No. 1 before the effective date of this Act is governed by the law as
79	79	it existed immediately before the effective date of this Act, and
80	80	that law is continued in effect for that purpose.
81	81	SECTION 3. (a) The legal notice of the intention to
82	82	introduce this Act, setting forth the general substance of this
83	83	Act, has been published as provided by law, and the notice and a
84	84	copy of this Act have been furnished to all persons, agencies,
85	85	officials, or entities to which they are required to be furnished
86	86	under Section 59, Article XVI, Texas Constitution, and Chapter 313,
87	87	Government Code.
88	88	(b) The governor, one of the required recipients, has
89	89	submitted the notice and Act to the Texas Commission on
90	90	Environmental Quality.
91	91	(c) The Texas Commission on Environmental Quality has filed
92	92	its recommendations relating to this Act with the governor, the
93	93	lieutenant governor, and the speaker of the house of
94	94	representatives within the required time.
95	95	(d) All requirements of the constitution and laws of this
96	96	state and the rules and procedures of the legislature with respect
97	97	to the notice, introduction, and passage of this Act are fulfilled
98	98	and accomplished.
99	99	SECTION 4. This Act takes effect immediately if it receives
100	100	a vote of two-thirds of all the members elected to each house, as
101	101	provided by Section 39, Article III, Texas Constitution. If this
102	102	Act does not receive the vote necessary for immediate effect, this
103	103	Act takes effect September 1, 2011.
104	104	* * * * *