Law:Title 9. Public Securities. Subtitle I. Specific Authority For Counties To Issue Securities from Chapter 1475. County Bonds And Warrants For Navigation Purposes (Texas)

From Law Delta

Revision as of 21:07, 28 September 2011 by Admin (Talk | contribs)
(diff) ← Older revision | Latest revision (diff) | Newer revision → (diff)
Jump to: navigation, search

Subtitle I. Specific Authority For Counties To Issue Securities

Contents

Chapter 1475. County Bonds And Warrants For Navigation Purposes

Subchapter A. Right-of-way For Federal Navigation Projects

Section  1475.001.  Purpose; Liberal Construction.

(a) The only purpose of this subchapter is to grant counties in this state the authority to issue bonds or warrants or to otherwise lend their credit for the acquisition and conveyance to the United States of the necessary right-of-way for waterways or navigable canals:

(1)  the construction of which is authorized by federal legislation; and

(2)  the cost of construction and maintenance of which is to be paid by the United States.

(b)  This subchapter shall be liberally construed to accomplish that purpose.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.002.  Authority To Acquire Right-of-way And Dumping Privileges.

(a) For the purpose of navigation or to aid in navigation, a county may, in accordance with Section 1475.003, acquire right-of-way and necessary dumping privileges for a canal or waterway the construction of which is authorized by federal legislation.

(b)  The county may:

(1)  acquire the right-of-way and necessary dumping privileges by purchase, through donation, or by exercising the county's power of eminent domain; and

(2)  convey the right-of-way and dumping privileges to the United States by a deed executed in the manner that other deeds by a county must be executed.

(c)  In lieu of exercising its power of eminent domain, the county may:

(1)  allow the United States to acquire the right-of-way and necessary dumping privileges through the United States' power of eminent domain; and

(2)  lend the county's credit by guaranteeing the United States that the county will pay the resulting judgment or assessment of damages for the value of the condemned property.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.003.  Authority To Issue Bonds And Impose Taxes.

To pay for an action authorized by Section 1475.002, a county may, on the approval of at least two-thirds of the qualified voters of the county who vote on the measure:

(1)  issue bonds or warrants or otherwise lend its credit in addition to its other debt and in an amount not to exceed one-fourth of the taxable value of the real property in the county; and

(2)  impose taxes to pay the interest on and to provide a sinking fund for the redemption of the debt.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.004.  Election.

(a) The commissioners court of a county:

(1)  may, on its own motion, order an election to determine whether the county will issue bonds or warrants or otherwise lend its credit to take an action under Section 1475.002; and

(2)  shall order such an election if a petition signed by at least 25 of the resident owners of taxable property in the county that calls for the election is filed with the commissioners court.

(b)  The election order must include as close a description as possible of:

(1)  the proposed navigation purposes, aid to navigation, or right-of-way and necessary dumping privileges to be acquired;

(2)  the amount of the proposed bonds or warrants or the extent of the credit proposed to be authorized for those purposes;

(3)  if the commissioners court proposes to issue bonds or warrants, the maturity dates and rate of interest of the bonds or warrants; and

(4)  if the commissioners court proposes to lend the credit of the county, the manner in which the credit is to be used and the terms of the credit to be authorized.

(c)  Subject to Section 4.003(c), Election Code, the commissioners court shall give 20 days notice of the election:

(1)  by publication in a newspaper published at the county seat; and

(2)  by posting in three public places in the county, one of which must be at the county seat.

(d)  The ballot shall be printed to permit voting for or against the proposition: "The issuance of bonds (or, if appropriate, 'the issuance of warrants' or 'the lending of credit') and the imposition of a tax in payment of the bonds (or, if appropriate, 'in payment of the warrants' or 'in payment of the lending of credit')."

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.005.  Duties Of Commissioners Court After Voter Approval.

If the voters approve the proposition, the commissioners court shall enter in its minutes:

(1)  the date of the election, the notice of the election, the ballot proposition, and the result of the election; and

(2)  an order that, as appropriate:

(A)  provides for the issuance of the bonds or warrants and states the amount, dates of maturity, and rate of interest of the bonds or warrants; or

(B)  authorizes the use of the county's credit, specifies the extent to which the county will lend its credit, and specifies the manner by and conditions under which the county will lend its credit.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.006.  Investment Of Sinking Fund.

Money deposited to the credit of the sinking fund of bonds or warrants issued under this subchapter shall be invested as money deposited to the credit of the sinking funds of other county bonds is invested.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.007.  Issuance Of Bonds And Warrants; Use Of Proceeds.

(a) A bond or warrant issued under this subchapter shall be:

(1)  issued in the name of the county;

(2)  signed by the county judge; and

(3)  attested by the county clerk under the seal of the commissioners court.

(b)  The commissioners court shall sell the bond or warrant on the best terms possible.

(c)  All money received from the sale of the bond or warrant shall be paid to the county treasurer. The county treasurer shall:

(1)  deposit the money to the credit of the county's navigation fund account; and

(2)  pay out the money on warrants in the manner that other county funds are disbursed.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Subchapter B. Property For Intracoastal Canal Purposes

Section  1475.051. 

 APPLICABILITY OF

Subchapter

. This subchapter applies only to a county adjacent to the Gulf of Mexico.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.052.  Authority To Acquire Land And Certain Interests In Land For Canal Purposes.

(a) If the acquisition is necessary for the construction of an intracoastal canal, a county may, by purchase or by exercising the county's power of eminent domain, acquire public or private land, a right-of-way, an easement, or dumping ground privileges.

(b)  The county must exercise the power of eminent domain in the manner provided by Chapter 21, Property Code. A county may not condemn land under Subsection (a) if the land is used for cemetery purposes.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.053.  Authority To Issue Time Warrants. The

commissioners court of a county may issue time warrants to pay for an acquisition under Section 1475.052.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.054.  Applicability Of Other Laws To Condemnation Proceedings.

Sections 261.002 and 261.003, Local Government Code, apply to a condemnation proceeding brought under this subchapter.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.



Section  1475.055.  Effect Of Appeal.

An appeal from a finding and assessment of damages made as described by Chapter 21, Property Code, does not suspend work by the United States that relates to the property or property right sought to be acquired.

Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.


Personal tools
Laws
Variants
Actions
Navigation
Toolbox