85R2278 PAM-D
By: Sanford H.B. No. 1310
A BILL TO BE ENTITLED
AN ACT
relating to requirements for providing information regarding the
issuance of certain proposed bonds by certain political
subdivisions.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter E, Chapter 45, Education Code, is
amended by adding Sections 45.114 and 45.115 to read as follows:
Sec. 45.114. REQUIREMENTS FOR BALLOT PROPOSITION FOR SCHOOL
DISTRICT BOND ELECTION. In addition to any other requirements
provided by law, a proposition submitted to authorize the issuance
of school district bonds must distinctly state:
(1) the purpose for which the bonds are issued;
(2) the amount of the bonds; and
(3) the rate of interest on the bonds.
Sec. 45.115. DISCLOSURE OF SPECIFIC BOND INFORMATION IN
PUBLICLY DISSEMINATED INFORMATION REQUIRED. (a) This section
applies only to school district bonds that may only be issued if
approved as provided by law by the qualified voters of the district
voting at an election held for that purpose.
(b) A school district shall include in any publicly
disseminated information relating to the proposed issuance of bonds
described by Subsection (a), including information provided on the
district's Internet website:
(1) the purpose for which the bonds are issued;
(2) the amount of the bonds; and
(3) the rate of interest on the bonds.
SECTION 2. Chapter 140, Local Government Code, is amended
by adding Section 140.013 to read as follows:
Sec. 140.013. DISCLOSURE OF SPECIFIC BOND INFORMATION IN
PUBLICLY DISSEMINATED INFORMATION REQUIRED. (a) This section
applies only to municipal or county bonds that may only be issued if
approved as provided by law by the qualified voters of the
municipality or county voting at an election held for that purpose.
(b) A municipality or county shall include in any publicly
disseminated information relating to the proposed issuance of bonds
described by Subsection (a), including information provided on the
Internet website of the municipality or county:
(1) the purpose for which the bonds are issued;
(2) the amount of the bonds; and
(3) the rate of interest on the bonds.
SECTION 3. This Act takes effect September 1, 2017.