85R12918 SCL-D
By: Taylor of Collin S.B. No. 1611
A BILL TO BE ENTITLED
AN ACT
relating to requiring an election for the issuance of certain
certificates of obligation by a municipality or county.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. The heading to Section 271.049, Local Government
Code, is amended to read as follows:
Sec. 271.049. NOTICE OF INTENTION TO ISSUE CERTIFICATES;
[PETITION AND] ELECTION REQUIRED.
SECTION 2. Sections 271.049(c) and (d), Local Government
Code, are amended 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. The election must
be held on the first uniform election date prescribed by Section
41.001, Election Code, that occurs after notice is provided under
this section and that allows sufficient time to comply with other
requirements of law.
(d) This section does not apply if:
(1) the issuer is located wholly or partly inside an
area declared to be a disaster area by the governor; and
(2) the proceeds of the certificates are used only for
disaster-related purposes [to certificates issued for the purposes
described by Sections 271.056(1)-(4)].
SECTION 3. Section 271.049, Local Government Code, as
amended by this Act, applies only to a certificate of obligation
issued on or after the effective date of this Act. A certificate
issued before the effective date of this Act is governed by the law
applicable to the certificate immediately before the effective date
of this Act, and that law is continued in effect for that purpose.
SECTION 4. This Act takes effect September 1, 2017.