Bill Text: TX HB1488 | 2019-2020 | 86th Legislature | Enrolled
Bill Title: Relating to financing of recreational facilities by the Charterwood Municipal Utility District of Harris County; providing authority to issue bonds.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2019-05-27 - Effective on 9/1/19 [HB1488 Detail]
Download: Texas-2019-HB1488-Enrolled.html
| H.B. No. 1488 | ||
|
|
||
| relating to financing of recreational facilities by the Charterwood | ||
| Municipal Utility District of Harris County; providing authority to | ||
| issue bonds. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Subtitle F, Title 6, Special District Local Laws | ||
| Code, is amended by adding Chapter 8054 to read as follows: | ||
| CHAPTER 8054. CHARTERWOOD MUNICIPAL UTILITY DISTRICT OF HARRIS | ||
| COUNTY | ||
| SUBCHAPTER A. GENERAL PROVISIONS | ||
| Sec. 8054.0101. DEFINITIONS. In this chapter: | ||
| (1) "District" means the Charterwood Municipal | ||
| Utility District of Harris County. | ||
| (2) "Recreational facilities" has the meaning | ||
| assigned by Section 49.462, Water Code. | ||
| SUBCHAPTER B. BONDS AND OTHER OBLIGATIONS | ||
| Sec. 8054.0201. BONDS FOR RECREATIONAL FACILITIES. (a) | ||
| The limitation on the outstanding principal amount of bonds, notes, | ||
| and other obligations provided by Section 49.4645(a), Water Code, | ||
| does not apply to the district. | ||
| (b) The outstanding principal amount of bonds, notes, and | ||
| other obligations issued to finance recreational facilities | ||
| supported by ad valorem taxes may not exceed: | ||
| (1) an amount equal to three percent of the value of | ||
| the taxable property in the district; or | ||
| (2) if supported by contract taxes under Section | ||
| 49.108, Water Code, an amount equal to three percent of the value of | ||
| the taxable property in the districts making payments under the | ||
| contract. | ||
| (c) The amounts described by Subsection (b) are calculated | ||
| based on the tax rolls of the central appraisal districts at the | ||
| time of the issuance of the bonds, notes, and other obligations. | ||
| SECTION 2. (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 3. This Act takes effect September 1, 2019. | ||
| ______________________________ | ______________________________ | |
| President of the Senate | Speaker of the House | |
| I certify that H.B. No. 1488 was passed by the House on April | ||
| 12, 2019, by the following vote: Yeas 132, Nays 11, 2 present, not | ||
| voting. | ||
| ______________________________ | ||
| Chief Clerk of the House | ||
| I certify that H.B. No. 1488 was passed by the Senate on May | ||
| 15, 2019, by the following vote: Yeas 28, Nays 3. | ||
| ______________________________ | ||
| Secretary of the Senate | ||
| APPROVED: _____________________ | ||
| Date | ||
| _____________________ | ||
| Governor | ||
