| 1 | 1 | | By: Rodriguez S.B. No. 1584 |
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| 2 | 2 | | (Nevarez) |
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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 the validation of the dissolution of the Development |
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| 8 | 8 | | Corporation of Presidio and the creation of the Presidio Municipal |
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| 9 | 9 | | Development District. |
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| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 11 | 11 | | SECTION 1. The legislature validates and confirms: |
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| 12 | 12 | | (1) the dissolution of the Development Corporation of |
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| 13 | 13 | | Presidio, a Type B economic development corporation, and the |
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| 14 | 14 | | creation of the Presidio Municipal Development District as of the |
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| 15 | 15 | | date of the election held on November 6, 2012, at which the voters |
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| 16 | 16 | | of the City of Presidio and its extraterritorial jurisdiction |
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| 17 | 17 | | approved both the dissolution of the economic development |
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| 18 | 18 | | corporation and the creation of the district and replaced the |
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| 19 | 19 | | dedicated sales and use tax for the benefit of the economic |
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| 20 | 20 | | development corporation with a dedicated sales and use tax for the |
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| 21 | 21 | | benefit of the district; and |
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| 22 | 22 | | (2) the levy of a sales and use tax of one-half of one |
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| 23 | 23 | | percent within the boundaries of the Presidio Municipal Development |
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| 24 | 24 | | District, for the purpose of financing development projects |
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| 25 | 25 | | beneficial to the district, that occurred before the effective date |
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| 26 | 26 | | of this Act. |
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| 27 | 27 | | SECTION 2. This Act takes effect immediately if it receives |
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| 28 | 28 | | a vote of two-thirds of all the members elected to each house, as |
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| 29 | 29 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 30 | 30 | | Act does not receive the vote necessary for immediate effect, this |
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| 31 | 31 | | Act takes effect September 1, 2013. |
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