1-1  By:  Holzheauser (Senate Sponsor - Armbrister)        H.B. No. 2747
    1-2        (In the Senate - Received from the House May 15, 1995;
    1-3  May 16, 1995, read first time and referred to Committee on Finance;
    1-4  May 19, 1995, reported favorably by the following vote:  Yeas 12,
    1-5  Nays 0; May 19, 1995, sent to printer.)
    1-6                         A BILL TO BE ENTITLED
    1-7                                AN ACT
    1-8  relating to the issuance of tuition revenue bonds for the
    1-9  University of Houston-Victoria.
   1-10        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
   1-11        SECTION 1.  Subchapter B,  Chapter 55, Education Code, is
   1-12  amended by adding Section 55.173 to read as follows:
   1-13        Sec. 55.173.  THE UNIVERSITY OF HOUSTON SYSTEM.  (a)  In
   1-14  addition to the authority granted by Sections 55.13, 55.17, 55.171,
   1-15  55.1715, and 55.19 of this code, the board of regents of the
   1-16  University of Houston System may acquire, purchase, construct,
   1-17  renovate, enlarge, and equip buildings, facilities, roads, land,
   1-18  and infrastructure for the University of Houston-Victoria.
   1-19        (b)  Beginning September 1, 1995, the board may issue bonds
   1-20  under this subchapter, in accordance with a systemwide revenue
   1-21  financing program adopted by the board, in an aggregate principal
   1-22  amount not to exceed $9 million to finance those items.
   1-23        (c)  The board may pledge irrevocably to the payment of those
   1-24  bonds all or any of the aggregate amount of student tuition charges
   1-25  required or authorized by law to be imposed on students enrolled at
   1-26  the University of Houston-Victoria or at a component of the
   1-27  University of Houston System.  The amount of a pledge made under
   1-28  this subsection may not be reduced or abrogated while the bonds for
   1-29  which the pledge is made, or bonds issued to refund those bonds,
   1-30  are outstanding.
   1-31        (d)  The board may repay the interest and principal on bonds
   1-32  issued under this section and maintenance and operations of the
   1-33  facility with appropriations that otherwise would have been for the
   1-34  lease of facilities.
   1-35        SECTION 2.  The importance of this legislation and the
   1-36  crowded condition of the calendars in both houses create an
   1-37  emergency and an imperative public necessity that the
   1-38  constitutional rule requiring bills to be read on three several
   1-39  days in each house be suspended, and this rule is hereby suspended,
   1-40  and that this Act take effect and be in force from and after its
   1-41  passage, and it is so enacted.
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