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A BILL TO BE ENTITLED
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AN ACT
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relating to the validation of the dissolution of the Development |
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Corporation of Presidio and the creation of the Presidio Municipal |
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Development District. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. The legislature validates and confirms: |
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(1) the dissolution of the Development Corporation of |
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Presidio, a Type B economic development corporation, and the |
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creation of the Presidio Municipal Development District as of the |
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date of the election held on November 6, 2012, at which the voters |
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of the City of Presidio and its extraterritorial jurisdiction |
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approved both the dissolution of the economic development |
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corporation and the creation of the district and replaced the |
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dedicated sales and use tax for the benefit of the economic |
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development corporation with a dedicated sales and use tax for the |
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benefit of the district; and |
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(2) the levy of a sales and use tax of one-half of one |
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percent within the boundaries of the Presidio Municipal Development |
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District, for the purpose of financing development projects |
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beneficial to the district, that occurred before the effective date |
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of this Act. |
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SECTION 2. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2013. |