By Junell H.B. No. 1235 75R5561 JSA-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to authorizing the issuance of revenue bonds for certain 1-3 public institutions of higher education. 1-4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-5 SECTION 1. Subchapter B, Chapter 55, Education Code, is 1-6 amended by adding Section 55.1719 to read as follows: 1-7 Sec. 55.1719. THE TEXAS A&M UNIVERSITY SYSTEM: ADDITIONAL 1-8 BONDS. (a) In addition to the authority granted by Sections 1-9 55.13, 55.14, 55.17, 55.171, 55.1711, 55.1712, 55.1713, and 55.19, 1-10 the board of regents of The Texas A&M University System may 1-11 acquire, purchase, construct, improve, renovate, enlarge, or equip 1-12 property, buildings, structures, facilities, roads, or related 1-13 infrastructure for Texas A&M International University to be 1-14 financed by the issuance of bonds in accordance with this 1-15 subchapter and in accordance with a systemwide revenue financing 1-16 program adopted by the board in aggregate principal amounts not to 1-17 exceed $5 million. 1-18 (b) The board may pledge irrevocably to the payment of those 1-19 bonds all or any part of the revenue funds of an institution, 1-20 branch, or entity of The Texas A&M University System, including 1-21 student tuition charges required or authorized by law to be imposed 1-22 on students enrolled at an institution, branch, or entity of The 1-23 Texas A&M University System. The amount of a pledge made under 1-24 this subsection may not be reduced or abrogated while the bonds for 2-1 which the pledge is made, or bonds issued to refund those bonds, 2-2 are outstanding. 2-3 (c) If sufficient funds are not available to the board to 2-4 meet its obligations under this section, the board may transfer 2-5 funds among institutions, branches, and entities of The Texas A&M 2-6 University System to ensure the most equitable and efficient 2-7 allocation of available resources for each institution, branch, or 2-8 entity to carry out its constitutional and statutory duties and 2-9 purposes. 2-10 SECTION 2. The importance of this legislation and the 2-11 crowded condition of the calendars in both houses create an 2-12 emergency and an imperative public necessity that the 2-13 constitutional rule requiring bills to be read on three several 2-14 days in each house be suspended, and this rule is hereby suspended, 2-15 and that this Act take effect and be in force from and after its 2-16 passage, and it is so enacted.