By:  Armbrister                                       S.B. No. 1597
                                 A BILL TO BE ENTITLED
                                        AN ACT
    1-1  relating to the issuance of tuition revenue bonds for the Texas
    1-2  State University System.
    1-3        BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
    1-4        SECTION 1.  Subchapter A, Chapter 55, Education Code, is
    1-5  amended by adding Section 55.1720 to read as follows:
    1-6        Sec. 55.1720.  THE TEXAS STATE UNIVERSITY SYSTEM.  (a)  In
    1-7  addition to the authority granted by Sections 55.13, 55.14, 55.16,
    1-8  55.1716, and 55.19 of this code, the board of regents of the Texas
    1-9  State University System may acquire, purchase, construct, renovate,
   1-10  enlarge, and equip buildings, facilities, roads, land, and
   1-11  infrastructure for Angelo State University, Sam Houston State
   1-12  University, Southwest Texas State University, Sul Ross State
   1-13  University, and the System Office.
   1-14        (b)  Beginning September 1, 1995, the board may issue bonds
   1-15  under this subchapter in an aggregate principal amount not to
   1-16  exceed $29.2 million to finance those items.
   1-17        (c)  The board may pledge irrevocably to the payment of those
   1-18  bonds all or any of the aggregate amount of student tuition charges
   1-19  required or authorized by law to be imposed on students enrolled at
   1-20  the component universities of the Texas State University System.
   1-21  The amount of a pledge made under this subsection may not be
   1-22  reduced or abrogated while the bonds for which the pledge is made,
   1-23  or bonds issued to refund those bonds, are outstanding.
    2-1        SECTION 2.  The importance of this legislation and the
    2-2  crowded condition of the calendars in both houses create an
    2-3  emergency and an imperative public necessity that the
    2-4  constitutional rule requiring bills to be read on three several
    2-5  days in each house be suspended, and this rule is hereby suspended,
    2-6  and that this Act take effect and be in force from and after its
    2-7  passage, and it is so enacted.