Bill Text: TX HB4725 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to the maximum maturity of certain refunding bonds issued by conservation and reclamation districts.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2023-03-22 - Referred to Natural Resources [HB4725 Detail]
Download: Texas-2023-HB4725-Introduced.html
| By: Schofield | H.B. No. 4725 | |
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| relating to the maximum maturity of certain refunding bonds issued | ||
| by conservation and reclamation districts. | ||
| BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | ||
| SECTION 1. Section 1207.006, Government Code, is amended to | ||
| read as follows: | ||
| (a) A refunding bond issued under this chapter must mature | ||
| not later than 40 years after its date. | ||
| (b) This section does not apply to refunding bonds issued by | ||
| a conservation and reclamation district to refund bonds issued for | ||
| projects, improvements, land, and facilities to convert areas from | ||
| groundwater to surface water. | ||
| 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, 2023. | ||
