By:  Cain                                             S.B. No. 1297
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to the issuance of bonds by East Texas State University.
    1-2        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-3        SECTION 1.  Subchapter B, Chapter 55, Education Code, is
    1-4  amended by adding Section 55.173 to read as follows:
    1-5        Sec. 55.173.  EAST TEXAS STATE UNIVERSITY.  (a)  The board of
    1-6  regents of East Texas State University may acquire, purchase,
    1-7  construct, improve, renovate, enlarge, or equip property,
    1-8  buildings, structures, facilities, roads, or related infrastructure
    1-9  for East Texas State University to be financed by the issuance of
   1-10  bonds in accordance with this subchapter in the aggregate principal
   1-11  amount of $9 million.  The authority granted by this section is in
   1-12  addition to the authority granted to the board by another section
   1-13  of this subchapter.
   1-14        (b)  The board may pledge irrevocably to the payment of those
   1-15  bonds all or any part of the revenue funds of East Texas State
   1-16  University, including student tuition charges required or
   1-17  authorized by law to be imposed on students enrolled at the
   1-18  university.  The amount of a pledge made under this subsection may
   1-19  not be reduced or abrogated while the bonds for which the pledge is
   1-20  made, or bonds issued to refund those bonds, are outstanding.
   1-21        SECTION 2.  The importance of this legislation and the
   1-22  crowded condition of the calendars in both houses create an
   1-23  emergency and an imperative public necessity that the
    2-1  constitutional rule requiring bills to be read on three several
    2-2  days in each house be suspended, and this rule is hereby suspended,
    2-3  and that this Act take effect and be in force from and after its
    2-4  passage, and it is so enacted.