| 1 | 1 | | 85R12918 SCL-D |
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| 2 | 2 | | By: Taylor of Collin S.B. No. 1611 |
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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 requiring an election for the issuance of certain |
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| 8 | 8 | | certificates of obligation by a municipality or county. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. The heading to Section 271.049, Local Government |
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| 11 | 11 | | Code, is amended to read as follows: |
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| 12 | 12 | | Sec. 271.049. NOTICE OF INTENTION TO ISSUE CERTIFICATES; |
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| 13 | 13 | | [PETITION AND] ELECTION REQUIRED. |
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| 14 | 14 | | SECTION 2. Sections 271.049(c) and (d), Local Government |
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| 15 | 15 | | Code, are amended to read as follows: |
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| 16 | 16 | | (c) If [before the date tentatively set for the |
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| 17 | 17 | | authorization of the issuance of the certificates or if before the |
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| 18 | 18 | | authorization, the municipal secretary or clerk if] the issuer is a |
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| 19 | 19 | | municipality[,] or [the county clerk if the issuer is] a county, |
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| 20 | 20 | | [receives a petition signed by at least five percent of the |
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| 21 | 21 | | qualified voters of the issuer protesting the issuance of the |
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| 22 | 22 | | certificates,] the issuer may not authorize the issuance of the |
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| 23 | 23 | | certificates unless the issuance is approved at an election |
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| 24 | 24 | | ordered, held, and conducted in the manner provided for bond |
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| 25 | 25 | | elections under Chapter 1251, Government Code. The election must |
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| 26 | 26 | | be held on the first uniform election date prescribed by Section |
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| 27 | 27 | | 41.001, Election Code, that occurs after notice is provided under |
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| 28 | 28 | | this section and that allows sufficient time to comply with other |
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| 29 | 29 | | requirements of law. |
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| 30 | 30 | | (d) This section does not apply if: |
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| 31 | 31 | | (1) the issuer is located wholly or partly inside an |
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| 32 | 32 | | area declared to be a disaster area by the governor; and |
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| 33 | 33 | | (2) the proceeds of the certificates are used only for |
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| 34 | 34 | | disaster-related purposes [to certificates issued for the purposes |
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| 35 | 35 | | described by Sections 271.056(1)-(4)]. |
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| 36 | 36 | | SECTION 3. Section 271.049, Local Government Code, as |
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| 37 | 37 | | amended by this Act, applies only to a certificate of obligation |
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| 38 | 38 | | issued on or after the effective date of this Act. A certificate |
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| 39 | 39 | | issued before the effective date of this Act is governed by the law |
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| 40 | 40 | | applicable to the certificate immediately before the effective date |
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| 41 | 41 | | of this Act, and that law is continued in effect for that purpose. |
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| 42 | 42 | | SECTION 4. This Act takes effect September 1, 2017. |
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