By: Schwertner S.B. No. 2230               A BILL TO BE ENTITLED   AN ACT   relating to the operation and administration of the Texas Bullion   Depository.          BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:          SECTION 1.  Subchapter C, Chapter 1232, Government Code is   amended by adding Section 1232.1026 to read as follows:          Sec. 1232.1026.  ISSUANCE OF BONDS FOR TEXAS BULLION   DEPOSITORY.  (a) The board may issue and sell bonds in the name of   the authority to finance the acquisition or construction of   buildings to be used by the Texas Bullion Depository.          (b)  After receiving a request under Section 2116.063, the   board shall promptly issue and sell bonds in the name of the   authority to provide the requested financing.          (c)  The comptroller shall accomplish its statutory   authority as if the property or building were financed by   legislative appropriation.  The board and the comptroller shall   adopt a memorandum of understanding that defines the division of   authority between the board and comptroller.          (d)  On completion of the acquisition or construction, the   comptroller shall lease the building from the authority.          (e)  Section 1232.114 does not apply to a building purchased   under this section.          SECTION 2.  Chapter 2116, Government Code is amended by   adding Subchapter C to read as follows:   SUBCHAPTER C. DEPOSITORY FACILITY          Sec. 2116.061. ACQUISITION OF PROPERTY.  The comptroller may   by purchase, lease, donation, or otherwise acquire real property to   operate the depository.          Sec. 2116.062.  PURCHASE OF BUILDING SUBJECT TO EXISTING   LEASE; AUTHORITY TO LEASE.  (a) If the comptroller determines that   doing so is advantageous to the state, the comptroller may purchase   property that is subject to existing leases by private tenants and   may continue or renew an existing lease.  The comptroller may   renegotiate the terms of an already existing lease to obtain terms   that are more favorable to the state.          (b) The comptroller may lease at fair marker value any   portion of a building acquired under this subchapter to a private   tenant for commercial activities.          (c)  Money received from a lease under this section may be   used by the comptroller to repay any debt or bonds used to acquire   the property.          Sec. 2116.063.  BORROWING MONEY; ISSUING AND SELLING BONDS.     (a)  The comptroller may borrow money in the amount and under   circumstances authorized by the legislature and may request the   Texas Public Finance Authority, on behalf of the comptroller, to   issue and sell bonds to acquire real property to operate the   depository.          (b)  The Texas Public Finance Authority may sell the bonds in   any manner it determines to be in the best interest of the   comptroller, except that it may not sell a bond that has not been   approved by the attorney general and registered with the   comptroller.          Sec. 2116.064.  TITLE TO AND CONTROL OF FACILITY.  The   comptroller shall obtain title for the state and retain control of   real property acquired for the depository facility.          SECTION 3.  This Act takes immediate effect 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, 2021.