83R3781 TJB-D
By: Murphy H.B. No. 1321
A BILL TO BE ENTITLED
AN ACT
relating to election procedures for the authorization of certain
debt by political subdivisions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Chapter 1251, Government Code, is amended by
designating Sections 1251.001, 1251.002, 1251.003, 1251.004,
1251.005, and 1251.006 as Subchapter A and adding a heading to
Subchapter A to read as follows:
SUBCHAPTER A. COUNTIES AND MUNICIPALITIES
SECTION 2. Chapter 1251, Government Code, is amended by
adding Subchapter B to read as follows:
SUBCHAPTER B. BOND MATTERS AFFECTING MORE THAN ONE TYPE OF
POLITICAL SUBDIVISION
Sec. 1251.051. DEFINITIONS. In this subchapter:
(1) "Debt obligation" means an issued public security,
as defined by Section 1201.002.
(2) "Political subdivision" means a county,
municipality, school district, junior college district, other
special district, or other subdivision of state government.
Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The
proposition submitted for an election to authorize a political
subdivision to issue bonds must distinctly state:
(1) as a total amount and as a per capita amount:
(A) the then-current principal of all
outstanding debt obligations of the political subdivision;
(B) the then-current combined principal and
interest required to pay all outstanding debt obligations of the
political subdivision on time and in full;
(C) the principal of the bonds to be authorized;
and
(D) the estimated combined principal and
interest required to pay the bonds to be authorized on time and in
full;
(2) the purpose for which the bonds are to be
authorized;
(3) the estimated rate of interest for the bonds to be
authorized; and
(4) the maturity date of the bonds to be authorized.
(b) The requirements for a proposition prescribed by this
section are in addition to any other requirements prescribed by
law. To the extent of a conflict between this section and Section
52.072, Election Code, this section controls.
SECTION 3. Section 271.049, Local Government Code, is
amended by amending Subsection (c) and adding Subsection (e) to
read as follows:
(c) If before the date tentatively set for the authorization
of the issuance of the certificates or if before the authorization,
the municipal secretary or clerk if the issuer is a municipality, or
the county clerk if the issuer is a county, receives a petition
signed by at least five percent of the qualified voters of the
issuer protesting the issuance of the certificates, the issuer may
not authorize the issuance of the certificates unless the issuance
is approved at an election ordered, held, and conducted in the
manner provided for bond elections under Chapter 1251, Government
Code. A proposition printed for an election under this subsection
must state:
(1) as a total amount and as a per capita amount:
(A) the then-current principal of all
outstanding debt obligations of the issuer;
(B) the then-current combined principal and
interest required to pay all outstanding debt obligations of the
issuer on time and in full;
(C) the principal of the certificates to be
authorized; and
(D) the estimated combined principal and
interest required to pay the certificates to be authorized on time
and in full;
(2) the purpose for which the certificates are to be
authorized;
(3) the estimated rate of interest for the
certificates to be authorized; and
(4) the maturity date of the certificates to be
authorized.
(e) In this section, "debt obligation" means an issued
public security, as defined by Section 1201.002, Government Code.
SECTION 4. Section 1251.052, Government Code, as added by
this Act, and Section 271.049(c), Local Government Code, as amended
by this Act, apply only to an election ordered on or after the
effective date of this Act. An election ordered before the
effective date of this Act is governed by the law in effect when the
election was ordered, and the former law is continued in effect for
that purpose.
SECTION 5. This Act takes effect September 1, 2013.