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Senate Bill 1952 |
Senate Author: Jackson, Mike |
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Effective: 5-27-09 |
House Sponsor: Weber |
Senate Bill 1952 amends the Government Code to clarify that provisions governing the issuance of county and municipal higher education improvement bonds apply to a home-rule municipality with a population of 25,000 or more that has an institution of higher education, rather than a general academic teaching institution, located within its boundaries and to make those provisions applicable also to a municipality with a population of 25,000 or more that has entered into an agreement with an institution of higher education relating to the provision of services in furtherance of the completion of certificate programs, degree programs, or other higher education programs within the municipality by the institution of higher education. The bill authorizes a municipality that has entered into such an agreement to issue public securities to acquire, construct, or improve land, buildings, or other permanent improvements for use by an institution of higher education; impose property taxes to pay the principal of and interest on those securities and to provide a sinking fund; and pledge those taxes, any portion of the revenues received in connection with the agreement, or any combination of the taxes and revenues to secure payment of any portion of those securities.