By Sibley                                              S.B. No. 989
       74R6623 JSA-F
                                 A BILL TO BE ENTITLED
    1-1                                AN ACT
    1-2  relating to the issuance of bonds by Tarleton State University.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Subchapter B, Chapter 55, Education Code, is
    1-5  amended by adding Section 55.174 to read as follows:
    1-6        Sec. 55.174.  TARLETON STATE UNIVERSITY.  (a)  In addition to
    1-7  the authority granted by Sections 55.13, 55.14, 55.17, 55.171,
    1-8  55.1711, 55.1712, 55.1713, and 55.19, the board of regents of The
    1-9  Texas A&M University System may acquire, purchase, construct,
   1-10  improve, renovate, enlarge, or equip property, buildings,
   1-11  structures, facilities, roads, or related infrastructure for
   1-12  Tarleton State University to be financed by the issuance of bonds
   1-13  in accordance with this subchapter and in accordance with a
   1-14  systemwide revenue financing program adopted by the board in
   1-15  aggregate principal amounts not to exceed $23 million.
   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 an institution,
   1-18  branch, or entity of The Texas A&M University System, including
   1-19  student tuition charges required or authorized by law to be imposed
   1-20  on students enrolled at an institution, branch, or entity of The
   1-21  Texas A&M University System.  The amount of a pledge made under
   1-22  this subsection may not be reduced or abrogated while the bonds for
   1-23  which the pledge is made, or bonds issued to refund those bonds,
   1-24  are outstanding.
    2-1        (c)  If sufficient funds are not available to the board to
    2-2  meet its obligations under this section, the board may transfer
    2-3  funds among institutions, branches, and entities of The Texas A&M
    2-4  University System to ensure the most equitable and efficient
    2-5  allocation of available resources for each institution, branch, or
    2-6  entity to carry out its constitutional and statutory duties and
    2-7  purposes.
    2-8        SECTION 2.  The importance of this legislation and the
    2-9  crowded condition of the calendars in both houses create an
   2-10  emergency and an imperative public necessity that the
   2-11  constitutional rule requiring bills to be read on three several
   2-12  days in each house be suspended, and this rule is hereby suspended,
   2-13  and that this Act take effect and be in force from and after its
   2-14  passage, and it is so enacted.