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HB 63, 63rd R.S.
Declaring the policy of this State and the purpose of this Act to safeguard the air resources of the state from pollution; providing for tax exemption; authorizing each city, town, village, county, and conservation district, including each river authority, to acquire, construct and improve or cause to be acquired, constructed and improved air control facilities, acquire interests in land and enter into leases or other contracts with persons whereby such person shall use and/or acquire such air control facilities; authorizing each to issue, sell and deliver revenue bonds to provide funds for such purposes; prescribing the terms of such bonds; providing for such bonds to be issued in one or more series; authorizing the issuer to fix and from time to time revise payments under leases and other contracts for use or acquisition of the facilities of the issuer; making provisions in the event of default or threatened default in the payment of such bonds; providing that such bonds shall be special obligations of the issuer; authorizing the refunding of such bonds; authorizing the securing of such bonds by trust indentures; providing for the approval of such bonds and leases or other contracts by the Attorney General; making such bonds, leases and other contracts incontestable; providing that such bonds shall be legal investments and eligible to secure public deposits; providing for surety and performance bonds and other matters pertaining to letting of contracts; providing for certification by Texas Air Control Board; providing that this law shall be cumulative of existing laws; providing for severability; making other provisions in the premises; and declaring an emergency.
Last action: Laid on the table subject to call
Author: Don Cavness
CLEAN AIR FINANCING ACT
House Committee: Intergovernmental Affairs ()
January 30 1973 | March 12 1973
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