2017S0009-1 11/10/16     By: Campbell S.B. No. 201     A BILL TO BE ENTITLED   AN ACT   relating to ballot propositions authorizing certain political   subdivisions to issue debt obligations.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Chapter 1251, Government Code, is amended by   designating Sections 1251.001, 1251.002, 1251.003, 1251.004,   1251.005, and 1251.006 as Subchapter A and adding a subchapter   heading to read as follows:   SUBCHAPTER A. COUNTIES AND MUNICIPALITIES          SECTION 2.  Chapter 1251, Government Code, is amended by   adding Subchapter B to read as follows:   SUBCHAPTER B. BOND MATTERS AFFECTING MORE THAN ONE TYPE OF   POLITICAL SUBDIVISION          Sec. 1251.051.  DEFINITIONS. In this subchapter:                (1)  "Debt obligation" means an issued public security,   as defined by Section 1201.002, that is secured by ad valorem taxes.                (2)  "Political subdivision" means a county,   municipality, school district, junior college district, other   special district, or other subdivision of state government.          Sec. 1251.052.  CONTENTS OF BALLOT PROPOSITION. The   proposition submitted for an election to authorize a political   subdivision to issue debt obligations must distinctly state:                (1)  the purpose for which the debt obligations are to   be authorized;                (2)  the principal amount of the debt obligations to be   authorized;                (3)  that taxes sufficient to pay the annual principal   of and interest on the debt obligations may be imposed;                (4)  the aggregate amount of the outstanding principal   of the political subdivision's debt obligations as of the beginning   of the political subdivision's fiscal year in which the election is   ordered; and                (5)  the ad valorem debt service tax rate for the   political subdivision at the time the election is ordered,   expressed as an amount per $100 valuation of taxable property.          Sec. 1251.053.  FORM OF BALLOT. The secretary of state may   adopt a form of the ballot for an election held under this   subchapter. A political subdivision is not required to use any   adopted form.          SECTION 3.  Section 1251.052, Government Code, as added by   this Act, applies only to an election ordered on or after the   effective date of this Act. An election ordered before the   effective date of this Act is governed by the law in effect when the   election was ordered, and the former law is continued in effect for   that purpose.          SECTION 4.  This Act takes effect September 1, 2017.