| 1 | | - | By: Lucio III (Senate Sponsor - Perry) H.B. No. 1224 |
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| 2 | | - | (In the Senate - Received from the House April 20, 2015; |
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| 3 | | - | April 23, 2015, read first time and referred to Committee on |
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| 4 | | - | Agriculture, Water, and Rural Affairs; May 5, 2015, reported |
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| 5 | | - | favorably by the following vote: Yeas 7, Nays 0; May 5, 2015, sent |
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| 6 | | - | to printer.) |
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| 1 | + | H.B. No. 1224 |
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| 10 | 4 | | AN ACT |
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| 11 | 5 | | relating to the purposes for which the assets of certain revolving |
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| 12 | 6 | | funds administered by the Texas Water Development Board may be |
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| 13 | 7 | | used. |
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| 14 | 8 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 15 | 9 | | SECTION 1. Subchapter J, Chapter 15, Water Code, is amended |
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| 16 | 10 | | by adding Section 15.6042 to read as follows: |
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| 17 | 11 | | Sec. 15.6042. CROSS-COLLATERALIZATION OF FUNDS. (a) In |
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| 18 | 12 | | this section, "state revolving fund bonds" means revenue bonds |
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| 19 | 13 | | issued by the board to provide funds for the revolving fund, the |
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| 20 | 14 | | safe drinking water revolving fund, or an additional state |
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| 21 | 15 | | revolving fund. |
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| 22 | 16 | | (b) Notwithstanding any other law to the contrary, the board |
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| 23 | 17 | | by resolution may approve the use of assets of the revolving fund, |
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| 24 | 18 | | the safe drinking water revolving fund, or an additional state |
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| 25 | 19 | | revolving fund as a source of revenue or security, or both revenue |
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| 26 | 20 | | and security, for the payment of the principal of and interest on |
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| 27 | 21 | | state revolving fund bonds. |
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| 28 | 22 | | SECTION 2. This Act takes effect immediately if it receives |
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| 29 | 23 | | a vote of two-thirds of all the members elected to each house, as |
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| 30 | 24 | | provided by Section 39, Article III, Texas Constitution. If this |
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| 31 | 25 | | Act does not receive the vote necessary for immediate effect, this |
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| 32 | 26 | | Act takes effect September 1, 2015. |
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| 33 | | - | * * * * * |
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| 27 | + | ______________________________ ______________________________ |
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| 28 | + | President of the Senate Speaker of the House |
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| 29 | + | I certify that H.B. No. 1224 was passed by the House on April |
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| 30 | + | 16, 2015, by the following vote: Yeas 142, Nays 4, 2 present, not |
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| 31 | + | voting. |
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| 32 | + | ______________________________ |
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| 33 | + | Chief Clerk of the House |
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| 34 | + | I certify that H.B. No. 1224 was passed by the Senate on May |
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| 35 | + | 13, 2015, by the following vote: Yeas 31, Nays 0. |
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| 36 | + | ______________________________ |
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| 37 | + | Secretary of the Senate |
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| 38 | + | APPROVED: _____________________ |
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| 39 | + | Date |
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| 40 | + | _____________________ |
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| 41 | + | Governor |
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