83rd Texas Legislature, Regular Session, House Bill 2610, Chapter 1018 Page: 1 of 5
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H.B. No. 2610
1 AN ACT
2 relating to the issuance of interest-bearing time warrants and
3 certain notes by school districts.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. Section 45.103, Education Code, is amended by
6 amending Subsections (a) and (c) and adding Subsection (a-1) to
7 read as follows:
8 (a) Any school district in need of funds to construct,
9 repair, or renovate school buildings, purchase school buildings and
10 school equipment, or equip school properties with necessary
11 heating, water, sanitation, lunchroom, or electric facilities or in
12 need of funds with which to employ a person who has special skill
13 and experience to compile taxation data and that is financially
14 unable out of available funds to construct, repair, renovate, or
15 purchase school buildings, purchase school equipment, or equip
16 school properties with necessary heating, water, sanitation,
17 lunchroom, or electric facilities or is unable to pay the person for
18 compiling taxation data, may, subject to this section, issue
19 interest-bearing time warrants, in amounts sufficient to
20 construct, purchase, equip, or improve school buildings and
21 facilities or to pay all or part of the compensation of the person
22 to compile taxation data, any law to the contrary notwithstanding.
23 The warrants shall mature in serial installments of not more than 15
24 [ifee] years from their date of issue. The warrants on maturity may
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Texas. Legislature. House of Representatives. 83rd Texas Legislature, Regular Session, House Bill 2610, Chapter 1018, legislative document, June 14, 2013; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth439107/m1/1/: accessed March 22, 2019), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.