Bill Text: TX SB526 | 2011-2012 | 82nd Legislature | Introduced

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Bill Title: Relating to the power of the Bell County Water Control and Improvement District No. 1 to issue bonds.

Sponsorship: Partisan Bill (Republican 1)

Status: (Introduced - Dead) 2011-02-17 - Referred to Natural Resources [SB526 Detail]

Download: Texas-2011-SB526-Introduced.html

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82R4096 PMO-F
By: Fraser S.B. No. 526

A BILL TO BE ENTITLED
AN ACT
relating to the power of the Bell County Water Control and
Improvement District No. 1 to issue bonds.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 9005.102, Special District Local Laws
Code, is amended to read as follows:
Sec. 9005.102. AUTHORITY TO ISSUE BONDS. (a) The district
may issue bonds for the purpose of purchasing, constructing,
acquiring, owning, operating, repairing, improving, enlarging, or
extending any district works, improvements, facilities, plants,
equipment, and appliances needed or useful to accomplish or carry
out the purposes, powers, functions, or obligations of the
district, including works, improvements, facilities, plants,
equipment, and appliances needed to provide a waterworks system,
sanitary sewer system, storm sewer system, or solid waste disposal
system. [In this section, "district property" means the district's
improvements, including property operated by the district under a
lease.]
(b) To provide for the payment of bonds issued under this
section, the [The] district may:
(1) impose ad valorem taxes on all taxable property in
the district;
(2) pledge all or any part of revenue available to the
district from any source, including all or part of the revenue:
(A) resulting from the ownership or operation of
the district's works, improvements, facilities, plants, equipment,
and appliances; or
(B) available under specific contracts for a
period of time the district determines; or
(3) pledge any combination of the sources of taxes or
revenue described by Subdivisions (1) and (2) [may call a bond
election and issue bonds in the manner and for the purposes provided
in Chapters 49 and 51, Water Code. In addition to the purposes
under those chapters, the district may vote on and issue bonds to:
[(1) acquire materials, supplies, equipment, and
other property needed or useful to maintain district property; and
[(2) extend, enlarge, improve, or repair district
property].
(c) Bonds secured by and payable solely from revenue under
Subsection (b)(2):
(1) may be issued without an election; and
(2) are not subject to Section 49.181, Water Code [If
bonds are voted on and issued in connection with property to be
operated by the district under lease, the engineer's report must
include a summary of the proposed expenditures of the bond
proceeds].
(d) The district must hold an election in the manner
provided by Chapters 49 and 51, Water Code, to obtain voter approval
before the district may impose an ad valorem tax or issue bonds
payable from ad valorem taxes.
(e) The district may exercise any of the rights or powers
granted to the governing body of an issuer under Chapter 1371,
Government Code.
(f) This section is wholly sufficient authority for the
issuance of bonds, the pledge of revenues, taxes, or any
combination of revenues and taxes, and the performance of other
acts and procedures authorized by this section by the district
without reference to any other provision of law or any restriction
or limitation contained in those provisions, except as specifically
provided by this section.
(g) To the extent of any conflict or inconsistency between
this section and any other law, this section controls.
(h) The district may use any law not in conflict with this
section to the extent convenient or necessary to carry out any power
or authority, express or implied, granted by this section.
SECTION 2. The changes in law made by this Act apply only to
a bond issued by the Bell County Water Control and Improvement
District No. 1 on or after the effective date of this Act. A bond
issued by the Bell County Water Control and Improvement District
No. 1 before the effective date of this Act is governed by the law as
it existed immediately before the effective date of this Act, and
that law is continued in effect for that purpose.
SECTION 3. (a) The legal notice of the intention to
introduce this Act, setting forth the general substance of this
Act, has been published as provided by law, and the notice and a
copy of this Act have been furnished to all persons, agencies,
officials, or entities to which they are required to be furnished
under Section 59, Article XVI, Texas Constitution, and Chapter 313,
Government Code.
(b) The governor, one of the required recipients, has
submitted the notice and Act to the Texas Commission on
Environmental Quality.
(c) The Texas Commission on Environmental Quality has filed
its recommendations relating to this Act with the governor, the
lieutenant governor, and the speaker of the house of
representatives within the required time.
(d) All requirements of the constitution and laws of this
state and the rules and procedures of the legislature with respect
to the notice, introduction, and passage of this Act are fulfilled
and accomplished.
SECTION 4. 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, 2011.