Texas Senate Bill SB1881

Texas 2011 - 82nd Regular

• Out of Senate Committee: 4/29/11
• Refer: 3/24/11
• Voted on by Senate: 5/10/11
• Report Pass: 4/29/11
• Out of House Committee: 5/20/11
• Engrossed: 5/10/11
• Refer: 5/11/11
• Report Pass: 5/17/11
• Introduced: 5/20/11

Caption

Relating to certain financial powers and duties of the Travis-Creedmoor Municipal Utility District.

Impact

The implications of SB1881 could be significant for local governance, especially concerning how municipal utility districts operate financially. By allowing the district greater autonomy in bond issuance and removal of previous allocation agreement requirements, the bill seeks to streamline financial processes. This autonomy could enable the Travis-Creedmoor Municipal Utility District to respond more swiftly to financial needs and potentially enhance its capability to undertake projects that serve the local community.

Summary

SB1881 is a newly introduced bill concerning the financial powers and responsibilities of the Travis-Creedmoor Municipal Utility District. It aims to amend the Special District Local Laws Code, specifically addressing the issuance of bonds and the allocation agreements related to the district. The bill provides the utility district with enhanced authority regarding its financial operations, allowing the board to determine the specifics related to the sale of bonds, which include setting the maximum principal amount and interest rates. This flexibility aims to facilitate the district's financial planning and operations.

Contention

While the bill may offer streamlined financial mechanisms, it may also attract scrutiny regarding local governance and control over municipal utilities. Concerns may arise regarding how this increased financial autonomy affects accountability and oversight within the district. The delegation of authority to board members and officers could raise questions about the transparency of decision-making processes, especially relating to significant financial commitments.