H.B. No. 167
AN ACT
relating to the use of the development project fund by certain
municipal development districts.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 377.072, Local Government Code, is
amended by amending Subsection (c) and adding Subsection (d) to
read as follows:
(c) Except as provided by Subsection (d), the [The] district
may use money in the development project fund only to:
(1) pay the costs of planning, acquiring,
establishing, developing, constructing, or renovating one or more
development projects in the district;
(2) pay the principal of, interest on, and other costs
relating to bonds or other obligations issued by the district or to
refund bonds or other obligations; or
(3) pay the costs of operating or maintaining one or
more development projects during the planning, acquisition,
establishment, development, construction, or renovation or while
bonds or other obligations for the planning, acquisition,
establishment, development, construction, or renovation are
outstanding.
(d) A district located in a county with a population of 3.3
million or more may use money in the development project fund only
to:
(1) pay the costs of planning, acquiring,
establishing, developing, constructing, or renovating one or more
development projects beneficial to the district if the projects are
in the district boundaries or the extraterritorial jurisdiction of
the municipality where the district is located;
(2) pay the principal of, interest on, and other costs
relating to bonds or other obligations issued by the district or to
refund bonds or other obligations; or
(3) pay the costs of operating or maintaining one or
more development projects during the planning, acquisition,
establishment, development, construction, or renovation or while
bonds or other obligations for the planning, acquisition,
establishment, development, construction, or renovation are
outstanding.
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, 2005.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 167 was passed by the House on April
20, 2005, by the following vote: Yeas 142, Nays 1, 2 present, not
voting; that the House refused to concur in Senate amendments to
H.B. No. 167 on May 23, 2005, and requested the appointment of a
conference committee to consider the differences between the two
houses; and that the House adopted the conference committee report
on H.B. No. 167 on May 28, 2005, by the following vote: Yeas 143,
Nays 0, 2 present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 167 was passed by the Senate, with
amendments, on May 20, 2005, by the following vote: Yeas 31, Nays
0; at the request of the House, the Senate appointed a conference
committee to consider the differences between the two houses; and
that the Senate adopted the conference committee report on H.B. No.
167 on May 28, 2005, by the following vote: Yeas 31, Nays 0.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor