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Amend CSHB 1541 (House Committee Printing) as follows:                       

(1)  On page 3, line 4, strike "Section 49.153(a), Water 	Code, is" and substitute "Sections 49.153(a) and (e), Water Code, 
are".
	(2)  On page 3, between lines 11 and 12, insert the 
following:               
	(e)  Subsection (c) does not apply to:                                         
		(1)  a note issued to and approved by the:                                    
			(A)  Farmers Home Administration;                                            
			(B)  United States Department of Agriculture; 
[or]        
			(C)  Texas Water Development Board; or                                       
			(D)  North American Development Bank; or                              
		(2)  a district described by Section 49.181(h).                               
	(3)  On page 3, line 26, between "Agriculture," and "or", 
insert "the North American Development Bank,".
	(4)  Between page 3, line 27 and page 4, line 1, insert the 
following appropriately numbered section and renumber subsequent 
sections accordingly:
	SECTION ____.  Sections 49.183(a) and (b), Water Code, are 
amended to read as follows:
	(a)  Except for refunding bonds, or bonds sold to a state or 
federal agency or to the North American Development Bank, bonds 
issued by a district shall be sold after advertising for and 
receiving competitive sealed bids and shall be awarded to the 
bidder whose bid produces the lowest net effective interest rate to 
the district.
	(b)  Except for refunding bonds, or bonds sold to a state or 
federal agency or to the North American Development Bank, before 
any bonds are sold by a district, the board shall publish an 
appropriate notice of the sale:
		(1)  at least one time not less than 10 days before the 
date of sale in a newspaper of general circulation in the county or 
counties in which the district is located;  and
		(2)  at least one time in one or more recognized 
financial publications of general circulation in the state as 
approved by the state attorney general.