Bill Text: TX HB797 | 2015-2016 | 84th Legislature | Comm Sub
NOTE: There are more recent revisions of this legislation. Read Latest Draft
Bill Title: Relating to the Hunt Memorial Hospital District; authorizing the issuance of bonds.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Enrolled - Dead) 2015-06-10 - Effective immediately [HB797 Detail]
Download: Texas-2015-HB797-Comm_Sub.html
Bill Title: Relating to the Hunt Memorial Hospital District; authorizing the issuance of bonds.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Enrolled - Dead) 2015-06-10 - Effective immediately [HB797 Detail]
Download: Texas-2015-HB797-Comm_Sub.html
By: Flynn (Senate Sponsor - Hall) | H.B. No. 797 | |
(In the Senate - Received from the House April 20, 2015; | ||
April 30, 2015, read first time and referred to Committee on | ||
Intergovernmental Relations; May 13, 2015, reported favorably by | ||
the following vote: Yeas 6, Nays 0; May 13, 2015, sent to printer.) | ||
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relating to the Hunt Memorial Hospital District; authorizing the | ||
issuance of bonds. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Section 1044.052, Special District Local Laws | ||
Code, is amended to read as follows: | ||
Sec. 1044.052. NOTICE OF ELECTION. Notice [ |
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Election Code, [ |
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circulation in the district. | ||
SECTION 2. Section 1044.053, Special District Local Laws | ||
Code, is amended to read as follows: | ||
Sec. 1044.053. BALLOT APPLICATION [ |
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wants to have the person's name printed on the ballot as a candidate | ||
for director must file with the board secretary an application in | ||
accordance with Chapter 144, Election Code [ |
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SECTION 3. Section 1044.103, Special District Local Laws | ||
Code, is amended to read as follows: | ||
Sec. 1044.103. MEDICAL FACILITIES; LEGISLATIVE INTENT. It | ||
is the intent of the legislature that the people of Hunt County be | ||
provided with the best and most modern health care available. To | ||
achieve that intent, the district may locate [ |
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related facility in the city of Commerce, [ |
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finds that providing a facility is feasible and in the best interest | ||
of district residents. | ||
SECTION 4. Subchapter E, Chapter 1044, Special District | ||
Local Laws Code, is amended by adding Sections 1044.206, 1044.207, | ||
1044.208, and 1044.209 to read as follows: | ||
Sec. 1044.206. REVENUE BONDS. (a) The board may issue | ||
revenue bonds to: | ||
(1) acquire, purchase, construct, repair, renovate, | ||
or equip buildings or improvements for hospital purposes; or | ||
(2) acquire sites to be used for hospital purposes. | ||
(b) The bonds must be payable from and secured by a pledge of | ||
all or part of the revenues derived from the operation of the | ||
district's hospital system, including district facilities. | ||
(c) The bonds may be additionally secured by a mortgage or | ||
deed of trust lien on all or part of the district property. | ||
(d) The bonds must be issued in the manner and in accordance | ||
with the procedures and requirements prescribed by Sections | ||
264.042, 264.043, 264.046, 264.047, 264.048, and 264.049, Health | ||
and Safety Code, for issuance of revenue bonds by county hospital | ||
authorities. | ||
Sec. 1044.207. REFUNDING BONDS. (a) The board may issue | ||
refunding bonds to refund outstanding indebtedness issued or | ||
assumed by the district. | ||
(b) A refunding bond may be: | ||
(1) sold, with the proceeds of the refunding bond | ||
applied to the payment of the outstanding indebtedness; or | ||
(2) exchanged wholly or partly for not less than a | ||
similar principal amount of outstanding indebtedness. | ||
Sec. 1044.208. ADDITIONAL MEANS OF SECURING REPAYMENT OF | ||
BONDS. In addition to the authority to issue general obligation | ||
bonds and revenue bonds under this subchapter, the board may | ||
provide for the security and payment of district bonds from a pledge | ||
of a combination of ad valorem taxes as authorized by Section | ||
1044.202 and revenue and other sources authorized by Section | ||
1044.206. | ||
Sec. 1044.209. USE OF BOND PROCEEDS. The district may use | ||
the proceeds of bonds issued under this subchapter to pay: | ||
(1) any expense the board determines is reasonable and | ||
necessary to issue, sell, and deliver the bonds; | ||
(2) interest payments on the bonds during a period of | ||
acquisition or construction of a project or facility to be provided | ||
through the bonds, not to exceed five years; | ||
(3) costs related to the financing of the bond funds, | ||
including debt service reserve and contingency funds; | ||
(4) costs related to the bond issuance; | ||
(5) costs related to the acquisition of land or | ||
interests in land for a project or facility to be provided through | ||
the bonds; and | ||
(6) costs of construction of a project or facility to | ||
be provided through the bonds, including the payment of related | ||
professional services and expenses. | ||
SECTION 5. 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, 2015. | ||
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