SRC-AAA S.B. 592 75(R)   BILL ANALYSIS


Senate Research Center   S.B. 592
By: Gallegos
Finance
3-13-97
As Filed


DIGEST 

Currently, a 147,000 square foot classroom building is scheduled to be
completed in May 1997 and will complete phase 1 of the University of
Houston-Downtown facilities expansion.   This bill authorizes the
University of Houston System to issue $8.2 million in tuition revenue
bonds on behalf of the University of Houston-Downtown to finance phase II
of the campus master plan. 

PURPOSE

As proposed, S.B. 592 authorizes the University of Houston System to issue
$8.2 million in tuition revenue bonds on behalf of the University of
Houston-Downtown to finance phase II of the campus master plan. 

RULEMAKING AUTHORITY

This bill does not grant any additional rulemaking authority to a state
officer, institution, or agency. 

SECTION BY SECTION ANALYSIS

SECTION 1.  Amends Chapter 55B, Education Code, by adding Section 55.1719,
as follows: 

Sec. 55.719. THE UNIVERSITY OF HOUSTON SYSTEM.  Authorizes the board of
regents of the University of Houston System (board) to take certain
actions for the University of Houston-Downtown to be financed by the
issuance of bonds in accordance with this chapter and with a system wide
revenue financing program adopted by the board, in an amount not to exceed
$8.2 million.  Authorizes the board to pledge certain items for the
payment of the bonds.  Prohibits the amount of a pledge from being reduced
or abrogated.  Authorizes the board to transfer funds among certain
entities of  the University of Houston-Downtown to ensure equitable and
efficient allocation of available resources for those entities. 

SECTION 2. Effective date: September 1, 1997.

SECTION 3. Emergency clause.