Bill Text: TX SB1584 | 2013-2014 | 83rd Legislature | Engrossed

NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the validation of the dissolution of the Development Corporation of Presidio and the creation of the Presidio Municipal Development District.

Status: (Passed) 2013-06-14 - Effective immediately [SB1584 Detail]

Download: Texas-2013-SB1584-Engrossed.html
 
 
  By: Rodriguez S.B. No. 1584
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the validation of the dissolution of the Development
  Corporation of Presidio and the creation of the Presidio Municipal
  Development District.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The legislature validates and confirms:
               (1)  the dissolution of the Development Corporation of
  Presidio, a Type B economic development corporation, and the
  creation of the Presidio Municipal Development District as of the
  date of the election held on November 6, 2012, at which the voters
  of the City of Presidio and its extraterritorial jurisdiction
  approved both the dissolution of the economic development
  corporation and the creation of the district and replaced the
  dedicated sales and use tax for the benefit of the economic
  development corporation with a dedicated sales and use tax for the
  benefit of the district; and
               (2)  the levy of a sales and use tax of one-half of one
  percent within the boundaries of the Presidio Municipal Development
  District, for the purpose of financing development projects
  beneficial to the district, that occurred before the effective date
  of this Act.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution. If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2013.
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