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H.B. No. 617 1 taxes and the authorized long-term indebtedness of which is rated 2 by a nationally recognized rating agency of securities issued by 3 local governments in one of the four highest rating categories for a 4 long-term obligation; 5 (L) an independent school district that has an 6 average daily attendance of 50,000 or more as determined under 7 Section 42.005, Education Code; 8 (M) a municipality or county operating under 9 Chapter 334, Local Government Code; or 10 (N) a district created under Chapter 335, Local 11 Government Code. 12 SECTION 2. Section 1371.057, Government Code, is amended by 13 adding Subsection (c) to read as follows: 14 (c) If the obligation authorization provides that the 15 issuer intends to refinance an obligation or loan under a credit 16 agreement with refunding bonds issued under Chapter 1207, then the 17 obligation or loan shall be treated, for purposes of attorney 18 general review and approval, as having the intended term and 19 payment schedule of the refunding bonds. 20 SECTION 3. This Act takes effect immediately if it receives 21 a vote of two-thirds of all the members elected to each house, as 22 provided by Section 39, Article III, Texas Constitution. If this 23 Act does not receive the vote necessary for immediate effect, this 24 Act takes effect September 1, 2005.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives.79th Texas Legislature, Regular Session, House Bill 647, Chapter 1005,
legislative document,
June 18, 2005;
[Austin, Texas].
(https://texashistory.unt.edu/ark:/67531/metapth157131/m1/3/:
accessed May 21, 2024),
University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu;
crediting UNT Libraries Government Documents Department.