By Johnson                                            H.B. No. 1006
       74R3066 JSA-D
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the issuance of bonds by Stephen F. Austin State
    1-3  University.
    1-4        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-5        SECTION 1.  Subchapter B, Chapter 55, Education Code, is
    1-6  amended by adding Section 55.1719 to read as follows:
    1-7        Sec. 55.1719.  STEPHEN F. AUSTIN STATE UNIVERSITY.  (a)  The
    1-8  board of regents of Stephen F. Austin State University may acquire,
    1-9  purchase, construct, improve, renovate, enlarge, or equip property,
   1-10  buildings, structures, facilities, roads, or related infrastructure
   1-11  for Stephen F. Austin State University to be financed by the
   1-12  issuance of bonds in accordance with this subchapter in the
   1-13  aggregate principal amount of $20 million. The authority granted by
   1-14  this section is in addition to authority granted to the board by
   1-15  another section of this subchapter.
   1-16        (b)  The board may pledge irrevocably to the payment of those
   1-17  bonds all or any part of the revenue funds of Stephen F. Austin
   1-18  State University, including student tuition charges required or
   1-19  authorized by law to be imposed on students enrolled at the
   1-20  university.  The amount of a pledge made under this subsection may
   1-21  not be reduced or abrogated while the bonds for which the pledge is
   1-22  made, or bonds issued to refund those bonds, are outstanding.
   1-23        SECTION 2.  The importance of this legislation and the
   1-24  crowded condition of the calendars in both houses create an
    2-1  emergency and an imperative public necessity that the
    2-2  constitutional rule requiring bills to be read on three several
    2-3  days in each house be suspended, and this rule is hereby suspended,
    2-4  and that this Act take effect and be in force from and after its
    2-5  passage, and it is so enacted.