| 1 | 1 | | By: Wentworth S.B. No. 1881 |
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| 2 | 2 | | (Rodriguez) |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to certain financial powers and duties of the |
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| 8 | 8 | | Travis-Creedmoor Municipal Utility District. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter C, Chapter 8163, Special District |
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| 11 | 11 | | Local Laws Code, is amended by adding Section 8163.105 to read as |
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| 12 | 12 | | follows: |
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| 13 | 13 | | Sec. 8163.105. NO ALLOCATION AGREEMENT. Section 54.016(f), |
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| 14 | 14 | | Water Code, does not apply to the district. |
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| 15 | 15 | | SECTION 2. Subchapter E, Chapter 8163, Special District |
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| 16 | 16 | | Local Laws Code, is amended by adding Section 8163.203 to read as |
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| 17 | 17 | | follows: |
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| 18 | 18 | | Sec. 8163.203. BOND PROVISIONS. (a) Notwithstanding any |
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| 19 | 19 | | other law, district bonds may be sold at a public or private sale |
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| 20 | 20 | | according to terms and procedures the board determines. |
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| 21 | 21 | | (b) In connection with the issuance of bonds, the board may: |
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| 22 | 22 | | (1) prescribe the maximum principal amount of bonds to |
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| 23 | 23 | | be issued and the rate of interest the bonds may bear in accordance |
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| 24 | 24 | | with Section 1204.006, Government Code; |
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| 25 | 25 | | (2) recite the public purpose for which one or more |
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| 26 | 26 | | series of bonds are issued; |
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| 27 | 27 | | (3) delegate to an officer or employee of the district |
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| 28 | 28 | | the authority to effect the sale of one or more series of bonds; and |
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| 29 | 29 | | (4) determine the period, not to exceed one year after |
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| 30 | 30 | | the date the district adopts the order or resolution delegating the |
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| 31 | 31 | | authority under Subdivision (3), during which that authority must |
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| 32 | 32 | | be exercised. |
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| 33 | 33 | | (c) In exercising the authority delegated by the board to an |
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| 34 | 34 | | officer or employee, the officer or employee may establish the |
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| 35 | 35 | | terms and details related to the issuance and sale of the bonds, |
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| 36 | 36 | | including: |
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| 37 | 37 | | (1) the form and designation of the bonds; |
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| 38 | 38 | | (2) the principal amount of the bonds and the amount of |
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| 39 | 39 | | the bonds to mature in each year; |
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| 40 | 40 | | (3) the dates, price, interest rates, interest payment |
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| 41 | 41 | | dates, principal payment dates, and redemption features of the |
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| 42 | 42 | | bonds; and |
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| 43 | 43 | | (4) any other details relating to the issuance and |
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| 44 | 44 | | sale of the bonds as specified by the board in the proceedings |
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| 45 | 45 | | authorizing the issuance of the bonds. |
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| 46 | 46 | | (d) A finding or determination made by an officer or |
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| 47 | 47 | | employee acting under the authority delegated to the officer or |
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| 48 | 48 | | employee has the same force and effect as a finding or determination |
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| 49 | 49 | | made by the board. |
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| 50 | 50 | | SECTION 3. (a) The legal notice of the intention to |
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| 51 | 51 | | introduce this Act, setting forth the general substance of this |
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| 52 | 52 | | Act, has been published as provided by law, and the notice and a |
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| 53 | 53 | | copy of this Act have been furnished to all persons, agencies, |
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| 54 | 54 | | officials, or entities to which they are required to be furnished |
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| 55 | 55 | | under Section 59, Article XVI, Texas Constitution, and Chapter 313, |
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| 56 | 56 | | Government Code. |
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| 57 | 57 | | (b) The governor, one of the required recipients, has |
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| 58 | 58 | | submitted the notice and Act to the Texas Commission on |
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| 59 | 59 | | Environmental Quality. |
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| 60 | 60 | | (c) The Texas Commission on Environmental Quality has filed |
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| 61 | 61 | | its recommendations relating to this Act with the governor, the |
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| 62 | 62 | | lieutenant governor, and the speaker of the house of |
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| 63 | 63 | | representatives within the required time. |
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| 64 | 64 | | (d) All requirements of the constitution and laws of this |
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| 65 | 65 | | state and the rules and procedures of the legislature with respect |
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| 66 | 66 | | to the notice, introduction, and passage of this Act are fulfilled |
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| 67 | 67 | | and accomplished. |
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| 68 | 68 | | SECTION 4. This Act takes effect immediately if it receives |
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| 69 | 69 | | a vote of two-thirds of all the members elected to each house, as |
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| 70 | 70 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 71 | 71 | | Act does not receive the vote necessary for immediate effect, this |
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| 72 | 72 | | Act takes effect September 1, 2011. |
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