Bill Text: TX SB1855 | 2017-2018 | 85th Legislature | Engrossed
Bill Title: Relating to the authority of a defense base development authority to participate in a company or partnership organized to finance redevelopment projects.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Engrossed - Dead) 2017-05-18 - Reported favorably w/o amendment(s) [SB1855 Detail]
Download: Texas-2017-SB1855-Engrossed.html
| By: Uresti | S.B. No. 1855 | |
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| relating to the authority of a defense base development authority | ||
| to participate in a company or partnership organized to finance | ||
| redevelopment projects. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 379B.004(a), Local Government Code, is | ||
| amended to read as follows: | ||
| (a) An authority may exercise power necessary or convenient | ||
| to carry out a purpose of this chapter, including the power to: | ||
| (1) adopt an official seal, or alter it; | ||
| (2) adopt rules; | ||
| (3) enter into a contract or incur a liability; | ||
| (4) acquire and dispose of money; | ||
| (5) select a depository; | ||
| (6) establish a system of accounts for the authority; | ||
| (7) invest funds in accordance with Chapter 2256, | ||
| Government Code; | ||
| (8) set the fiscal year for the authority; | ||
| (9) adopt an annual operating budget for major | ||
| expenditures before the beginning of the fiscal year; | ||
| (10) borrow money or issue a bond in an amount that | ||
| does not exceed the maximum amount set by the board; | ||
| (11) loan money; | ||
| (12) acquire, lease, lease-purchase, convey, grant a | ||
| mortgage on, or otherwise dispose of a property right, including a | ||
| right regarding base property; | ||
| (13) lease property located on the base property to a | ||
| person to effect the purposes of this chapter; | ||
| (14) request and accept a donation, grant, guaranty, | ||
| or loan from any source permitted by law; | ||
| (15) operate and maintain an office; | ||
| (16) charge for the use, lease, or sale of an open | ||
| space or a facility; | ||
| (17) exercise a power granted to a municipality by | ||
| Chapter 380; | ||
| (18) authorize by resolution the incorporation of a | ||
| nonprofit airport facility financing corporation as provided and | ||
| authorized by Subchapter E, Chapter 22, Transportation Code, to | ||
| provide financing to pay the costs, including interest, and | ||
| reserves for the costs of an airport facility authorized by that | ||
| chapter and for other purposes set forth in the articles of | ||
| incorporation; | ||
| (19) exercise the powers granted to a local government | ||
| for the financing of facilities to be located on airport property, | ||
| including those set out in Chapter 22, Transportation Code, | ||
| consistent with the requirements and the purposes of Section 52-a, | ||
| Article III, Texas Constitution; | ||
| (20) lease, own, and operate an airport and exercise | ||
| the powers granted to municipalities and counties by Chapter 22, | ||
| Transportation Code; | ||
| (21) lease, own, and operate port facilities for air, | ||
| trucking, and rail transportation; | ||
| (22) provide security for port functions, facilities, | ||
| and operations; [ |
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| (23) cooperate with and participate in programs and | ||
| security efforts of this state and the federal Department of | ||
| Homeland Security; and | ||
| (24) participate as a member or partner of a limited | ||
| liability company, a limited liability partnership, or other entity | ||
| organized to finance a project designated as a redevelopment | ||
| project under Section 379B.009. | ||
| 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, 2017. | ||
