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House Bill 100 |
House Author: Zerwas et al. |
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Effective: 9-1-15 |
Senate Sponsor: Seliger et al. |
House Bill 100 amends the Education Code to grant the boards of regents of certain public institutions of higher education the authority to issue tuition revenue bonds to finance certain capital acquisition, construction, or improvements and caps the aggregate principal amounts for the projects specified or the aggregate principal amount for each institution, as appropriate. The bill provides for the payment of the bonds and the transfer of funds to ensure repayment, as applicable, and specifies that the amount of a pledge may not be reduced or abrogated while the bonds for which the pledge is made, or bonds issued to refund those bonds, are outstanding.