Bill Text: TX HB1794 | 2013-2014 | 83rd Legislature | Introduced
Bill Title: Relating to ballot propositions authorizing certain political subdivisions to issue bonds.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2013-03-04 - Referred to Elections [HB1794 Detail]
Download: Texas-2013-HB1794-Introduced.html
83R6636 TJB-D | ||
By: Pitts | H.B. No. 1794 |
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relating to ballot propositions authorizing certain political | ||
subdivisions to issue bonds. | ||
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
SECTION 1. Chapter 1251, Government Code, is amended by | ||
designating Sections 1251.001, 1251.002, 1251.003, 1251.004, | ||
1251.005, and 1251.006 as Subchapter A and adding a heading to | ||
Subchapter A to read as follows: | ||
SUBCHAPTER A. COUNTIES AND MUNICIPALITIES | ||
SECTION 2. Chapter 1251, Government Code, is amended by | ||
adding Subchapter B to read as follows: | ||
SUBCHAPTER B. BOND MATTERS AFFECTING MORE THAN ONE TYPE OF | ||
POLITICAL SUBDIVISION | ||
Sec. 1251.051. DEFINITIONS. In this subchapter: | ||
(1) "Debt obligation" means an issued public security, | ||
as defined by Section 1201.002. | ||
(2) "Political subdivision" means a county, | ||
municipality, school district, junior college district, other | ||
special district, or other subdivision of state government. | ||
Sec. 1251.052. CONTENTS OF BALLOT PROPOSITION. (a) The | ||
proposition submitted for an election to authorize a political | ||
subdivision to issue bonds must distinctly state: | ||
(1) as a total amount and as a per capita amount: | ||
(A) the then-current principal of all | ||
outstanding debt obligations of the political subdivision; | ||
(B) the then-current combined principal and | ||
interest required to pay all outstanding debt obligations of the | ||
political subdivision on time and in full; | ||
(C) the principal of the bonds to be authorized; | ||
and | ||
(D) the estimated combined principal and | ||
interest required to pay the bonds to be authorized on time and in | ||
full; | ||
(2) the purpose for which the bonds are to be | ||
authorized; | ||
(3) the estimated rate of interest for the bonds to be | ||
authorized; and | ||
(4) the maturity date of the bonds to be authorized. | ||
(b) The requirements for a proposition prescribed by this | ||
section are in addition to any other requirements prescribed by | ||
law. To the extent of a conflict between this section and Section | ||
52.072, Election Code, this section controls. | ||
Sec. 1251.053. ONLINE SAMPLE BALLOT. A sample of the ballot | ||
printed for an election to authorize a political subdivision to | ||
issue bonds must be posted on the political subdivision's Internet | ||
website as soon as practicable after the official ballots have been | ||
prepared and must remain posted until the day following the | ||
election. | ||
Sec. 1251.054. FORM OF BALLOT. The secretary of state shall | ||
prescribe a form of the ballot for an election held under this | ||
subchapter. A political subdivision is not required to use the | ||
form. | ||
SECTION 3. (a) Sections 1251.052 and 1251.053, Government | ||
Code, as added by this Act, apply only to a bond election ordered on | ||
or after the effective date of this Act. A bond election ordered | ||
before the effective date of this Act is governed by the law in | ||
effect when the bond election was ordered, and the former law is | ||
continued in effect for that purpose. | ||
(b) Not later than January 1, 2014, the secretary of state | ||
shall make available on the secretary of state's Internet website a | ||
form of the ballot described by Section 1251.054, Government Code, | ||
as added by this Act. | ||
SECTION 4. This Act takes effect September 1, 2013. |