1-1 By: Junell, et al. (Senate Sponsor - Ratliff) H.B. No. 1235
1-2 (In the Senate - Received from the House March 26, 1997;
1-3 April 2, 1997, read first time and referred to Committee on
1-4 Finance; May 5, 1997, reported adversely, with favorable Committee
1-5 Substitute by the following vote: Yeas 12, Nays 0; May 5, 1997,
1-6 sent to printer.)
1-7 COMMITTEE SUBSTITUTE FOR H.B. No. 1235 By: Ratliff
1-8 A BILL TO BE ENTITLED
1-9 AN ACT
1-10 relating to authorizing the issuance of revenue bonds for certain
1-11 public institutions of higher education.
1-12 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-13 SECTION 1. Section 55.17(e), Education Code, is amended by
1-14 adding Subdivision (4) to read as follows:
1-15 (4) In addition to the other authority granted by this
1-16 subchapter, the board of regents of Texas Tech University and the
1-17 Texas Tech University Health Sciences Center may issue bonds in
1-18 accordance with this subchapter and in accordance with a systemwide
1-19 revenue financing program adopted by the board to finance the items
1-20 listed under Subdivision (1) of this subsection in an additional
1-21 aggregate principal amount for Texas Tech University not to exceed
1-22 $66 million, and in an additional aggregate principal amount for
1-23 the Texas Tech University Health Sciences Center not to exceed
1-24 $51.2 million. The board may pledge irrevocably to the payment of
1-25 those bonds all or any part of the revenue funds of Texas Tech
1-26 University or the Texas Tech University Health Sciences Center,
1-27 including student tuition charges required or authorized by law to
1-28 be imposed on students enrolled at Texas Tech University or at the
1-29 Texas Tech University Health Sciences Center. The amount of a
1-30 pledge made under this subdivision may not be reduced or abrogated
1-31 while the bonds for which the pledge is made, or bonds issued to
1-32 refund those bonds, are outstanding.
1-33 SECTION 2. Subchapter B, Chapter 55, Education Code, is
1-34 amended by adding Sections 55.1721, 55.1722, 55.1723, 55.1724,
1-35 55.1725, 55.1726, 55.1727, and 55.1728 to read as follows:
1-36 Sec. 55.1721. THE TEXAS A&M UNIVERSITY SYSTEM. (a) In
1-37 addition to the other authority granted by this subchapter, the
1-38 board of regents of The Texas A&M University System may acquire,
1-39 purchase, construct, improve, renovate, enlarge, or equip property,
1-40 buildings, structures, facilities, roads, or related infrastructure
1-41 for the following institutions to be financed by the issuance of
1-42 bonds in accordance with this subchapter and in accordance with a
1-43 systemwide revenue financing program adopted by the board in
1-44 aggregate principal amounts not to exceed the following amounts:
1-45 (1) Prairie View A&M University, $28 million;
1-46 (2) Tarleton State University, $28 million;
1-47 (3) Texas A&M University, $70 million;
1-48 (4) Texas A&M University Health Science Center, $15
1-49 million;
1-50 (5) Texas A&M University at Galveston, $2 million;
1-51 (6) Texas A&M University--Commerce, $19.16 million;
1-52 (7) Texas A&M University--Corpus Christi, $30 million;
1-53 (8) Texas A&M International University, $70 million;
1-54 (9) Texas A&M University--Kingsville, $17.5 million;
1-55 (10) Texas A&M University--Texarkana, $5 million;
1-56 (11) West Texas A&M University, $23 million; and
1-57 (12) the Baylor College of Dentistry, $5.45 million.
1-58 (b) The board may pledge irrevocably to the payment of those
1-59 bonds all or any part of the revenue funds of an institution,
1-60 branch, or entity of The Texas A&M University System, including
1-61 student tuition charges required or authorized by law to be imposed
1-62 on students enrolled at an institution, branch, or entity of The
1-63 Texas A&M University System. The amount of a pledge made under
1-64 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 Sec. 55.1722. THE UNIVERSITY OF TEXAS SYSTEM. (a) In
2-11 addition to the other authority granted by this subchapter, the
2-12 board of regents of The University of Texas System may acquire,
2-13 purchase, construct, improve, renovate, enlarge, or equip property,
2-14 buildings, structures, facilities, roads, or related infrastructure
2-15 for the following institutions to be financed by the issuance of
2-16 bonds in accordance with this subchapter, including bonds issued in
2-17 accordance with its systemwide revenue financing program and
2-18 secured as provided by that program in aggregate principal amounts
2-19 not to exceed the following amounts:
2-20 (1) The University of Texas at Arlington, $40.7
2-21 million;
2-22 (2) The University of Texas at Austin, $70 million;
2-23 (3) The University of Texas at Brownsville, $50
2-24 million;
2-25 (4) The University of Texas at Dallas, $12.4 million;
2-26 (5) The University of Texas at El Paso, $20 million;
2-27 (6) The University of Texas--Pan American, $42.08
2-28 million;
2-29 (7) The University of Texas of the Permian Basin,
2-30 $37.2 million;
2-31 (8) The University of Texas at San Antonio, $104.7
2-32 million;
2-33 (9) The University of Texas at Tyler, $12.7 million;
2-34 (10) The University of Texas at Tyler,
2-35 Nursing-Palestine Extension, $500,000;
2-36 (11) The University of Texas Southwestern Medical
2-37 Center at Dallas, $20 million;
2-38 (12) The University of Texas Medical Branch at
2-39 Galveston, $27 million;
2-40 (13) The University of Texas Health Science Center at
2-41 Houston, $60 million;
2-42 (14) The University of Texas Health Science Center at
2-43 San Antonio, $50 million; and
2-44 (15) the Lower Rio Grande Valley Academic Health
2-45 Center, $41 million, if that institution is established.
2-46 (b) The board may pledge irrevocably to the payment of those
2-47 bonds all or any part of the revenue funds of an institution,
2-48 branch, or entity of The University of Texas System, including
2-49 student tuition charges required or authorized by law to be imposed
2-50 on students enrolled at an institution, branch, or entity of The
2-51 University of Texas System. The amount of a pledge made under this
2-52 subsection may not be reduced or abrogated while the bonds for
2-53 which the pledge is made, or bonds issued to refund those bonds,
2-54 are outstanding.
2-55 (c) If sufficient funds are not available to the board to
2-56 meet its obligations under this section, the board may transfer
2-57 funds among institutions, branches, and entities of The University
2-58 of Texas System to ensure the most equitable and efficient
2-59 allocation of available resources for each institution, branch, or
2-60 entity to carry out its constitutional and statutory duties and
2-61 purposes.
2-62 Sec. 55.1723. THE UNIVERSITY OF HOUSTON SYSTEM. (a) In
2-63 addition to the other authority granted by this subchapter, the
2-64 board of regents of the University of Houston System may acquire,
2-65 purchase, construct, improve, renovate, enlarge, or equip property,
2-66 buildings, structures, facilities, roads, or related infrastructure
2-67 for the following institutions to be financed by the issuance of
2-68 bonds in accordance with this subchapter and in accordance with a
2-69 systemwide revenue financing program adopted by the board in an
3-1 aggregate principal amount not to exceed the following amounts:
3-2 (1) the University of Houston, $80 million;
3-3 (2) the University of Houston--Downtown, $28.8
3-4 million;
3-5 (3) the University of Houston--Clear Lake, $17
3-6 million; and
3-7 (4) the University of Houston--Victoria, $11.1
3-8 million.
3-9 (b) The board may pledge irrevocably to the payment of those
3-10 bonds all or any part of the revenue funds of an institution,
3-11 branch, or entity of the University of Houston System, including
3-12 student tuition charges required or authorized by law to be imposed
3-13 on students enrolled at an institution, branch, or entity of the
3-14 University of Houston System. The amount of a pledge made under
3-15 this subsection may not be reduced or abrogated while the bonds for
3-16 which the pledge is made, or bonds issued to refund those bonds,
3-17 are outstanding.
3-18 (c) If sufficient funds are not available to the board to
3-19 meet its obligations under this section, the board may transfer
3-20 funds among institutions, branches, and entities of the University
3-21 of Houston System to ensure the most equitable and efficient
3-22 allocation of available resources for each institution, branch, or
3-23 entity to carry out its duties and purposes.
3-24 Sec. 55.1724. TEXAS STATE UNIVERSITY SYSTEM. (a) In
3-25 addition to the other authority granted by this subchapter, the
3-26 board of regents of the Texas State University System may acquire,
3-27 purchase, construct, improve, renovate, enlarge, or equip property,
3-28 buildings, structures, facilities, roads, or related infrastructure
3-29 for the following institutions to be financed by the issuance of
3-30 bonds in accordance with this subchapter and in accordance with a
3-31 systemwide revenue financing program adopted by the board in
3-32 aggregate principal amounts not to exceed the following:
3-33 (1) Angelo State University, $24.06 million;
3-34 (2) Lamar University--Beaumont, $11.4 million;
3-35 (3) Lamar University Institute of Technology, $2.75
3-36 million;
3-37 (4) Lamar University--Orange, $5.5 million;
3-38 (5) Lamar University--Port Arthur, $3.16 million;
3-39 (6) Sam Houston State University, $8.97 million;
3-40 (7) Southwest Texas State University, $21.7 million;
3-41 and
3-42 (8) Sul Ross State University, $19.69 million.
3-43 (b) The board may pledge irrevocably to the payment of those
3-44 bonds all or any part of the revenue funds of an institution,
3-45 branch, or entity of the Texas State University System, including
3-46 student tuition charges required or authorized by law to be imposed
3-47 on students enrolled at an institution, branch, or entity of the
3-48 Texas State University System. The amount of a pledge made under
3-49 this subsection may not be reduced or abrogated while the bonds for
3-50 which the pledge is made, or bonds issued to refund those bonds,
3-51 are outstanding.
3-52 (c) If sufficient funds are not available to the board to
3-53 meet its obligations under this section, the board may transfer
3-54 funds among institutions, branches, and entities of the Texas State
3-55 University System to ensure the most equitable and efficient
3-56 allocation of available resources for each institution, branch, or
3-57 entity to carry out its duties and purposes.
3-58 Sec. 55.1725. UNIVERSITY OF NORTH TEXAS AND UNIVERSITY OF
3-59 NORTH TEXAS HEALTH SCIENCE CENTER AT FORT WORTH. (a) The board of
3-60 regents of the University of North Texas may acquire, purchase,
3-61 construct, improve, renovate, enlarge, or equip property,
3-62 buildings, structures, facilities, roads, or related infrastructure
3-63 for the University of North Texas or the University of North Texas
3-64 Health Science Center at Fort Worth to be financed by the issuance
3-65 of bonds in accordance with this subchapter in the aggregate
3-66 principal amounts not to exceed $24 million for the University of
3-67 North Texas and $23 million for the University of North Texas
3-68 Health Science Center at Fort Worth.
3-69 (b) The board may pledge irrevocably to the payment of those
4-1 bonds all or any part of the revenue funds of the University of
4-2 North Texas or the University of North Texas Health Science Center
4-3 at Fort Worth, including student tuition charges required or
4-4 authorized by law to be imposed on students enrolled at the
4-5 University of North Texas or the University of North Texas Health
4-6 Science Center at Fort Worth. The amount of a pledge made under
4-7 this subsection may not be reduced or abrogated while the bonds for
4-8 which the pledge is made, or bonds issued to refund those bonds,
4-9 are outstanding.
4-10 (c) If sufficient funds are not available to the board to
4-11 meet its obligations under this section, the board may transfer
4-12 funds between the University of North Texas and the University of
4-13 North Texas Health Science Center at Fort Worth to ensure the most
4-14 equitable and efficient allocation of available resources for the
4-15 University of North Texas and the University of North Texas Health
4-16 Science Center at Fort Worth to carry out their duties and
4-17 purposes.
4-18 Sec. 55.1726. TEXAS WOMAN'S UNIVERSITY. (a) The board of
4-19 regents of Texas Woman's University may acquire, purchase,
4-20 construct, improve, renovate, enlarge, or equip property,
4-21 buildings, structures, facilities, roads, or related infrastructure
4-22 for Texas Woman's University to be financed by the issuance of
4-23 bonds in accordance with this subchapter in the aggregate principal
4-24 amount not to exceed $10.1 million.
4-25 (b) The board may pledge irrevocably to the payment of those
4-26 bonds all or any part of the revenue funds of Texas Woman's
4-27 University, including student tuition charges required or
4-28 authorized by law to be imposed on students enrolled at Texas
4-29 Woman's University. The amount of a pledge made under this
4-30 subsection may not be reduced or abrogated while the bonds for
4-31 which the pledge is made, or bonds issued to refund those bonds,
4-32 are outstanding.
4-33 Sec. 55.1727. MIDWESTERN STATE UNIVERSITY. (a) The board
4-34 of regents of Midwestern State University may acquire, purchase,
4-35 construct, improve, renovate, enlarge, or equip property,
4-36 buildings, structures, facilities, roads, or related infrastructure
4-37 for Midwestern State University to be financed by the issuance of
4-38 bonds in accordance with this subchapter in the aggregate principal
4-39 amount not to exceed $17.5 million.
4-40 (b) The board may pledge irrevocably to the payment of those
4-41 bonds all or any part of the revenue funds of Midwestern State
4-42 University, including student tuition charges required or
4-43 authorized by law to be imposed on students enrolled at Midwestern
4-44 State University. The amount of a pledge made under this
4-45 subsection may not be reduced or abrogated while the bonds for
4-46 which the pledge is made, or bonds issued to refund those bonds,
4-47 are outstanding.
4-48 Sec. 55.1728. STEPHEN F. AUSTIN STATE UNIVERSITY. (a) The
4-49 board of regents of Stephen F. Austin State University may acquire,
4-50 purchase, construct, improve, renovate, enlarge, or equip property,
4-51 buildings, structures, facilities, roads, or related infrastructure
4-52 for Stephen F. Austin State University to be financed by the
4-53 issuance of bonds in accordance with this subchapter in the
4-54 aggregate principal amount not to exceed $37 million.
4-55 (b) The board may pledge irrevocably to the payment of those
4-56 bonds all or any part of the revenue funds of Stephen F. Austin
4-57 State University, including student tuition charges required or
4-58 authorized by law to be imposed on students enrolled at Stephen F.
4-59 Austin State University. The amount of a pledge made under this
4-60 subsection may not be reduced or abrogated while the bonds for
4-61 which the pledge is made, or bonds issued to refund those bonds,
4-62 are outstanding.
4-63 SECTION 3. Subchapter B, Chapter 55, Education Code, is
4-64 amended by adding Section 55.174 to read as follows:
4-65 Sec. 55.174. TEXAS SOUTHERN UNIVERSITY. (a) In addition to
4-66 other authority granted by this subchapter, the board of regents of
4-67 Texas Southern University may acquire, purchase, construct,
4-68 improve, renovate, enlarge, or equip property, buildings,
4-69 structures, facilities, roads, or related infrastructure for Texas
5-1 Southern University to be financed by the issuance of bonds in
5-2 accordance with this subchapter and in accordance with a revenue
5-3 financing program adopted by the board in an aggregate principal
5-4 amount not to exceed $55 million.
5-5 (b) The board may pledge irrevocably to the payment of those
5-6 bonds all or any part of the revenue funds of Texas Southern
5-7 University, including student tuition charges required or
5-8 authorized by law to be imposed on students enrolled at the
5-9 university. The amount of a pledge made under this subsection may
5-10 not be reduced or abrogated while the bonds for which the pledge is
5-11 made, or bonds issued to refund those bonds, are outstanding.
5-12 SECTION 4. Section 61.0572(e), Education Code, is amended to
5-13 read as follows:
5-14 (e) Approval of the board is not required to acquire real
5-15 property that is financed by bonds issued under Section 55.17(e)(3)
5-16 or (4), [or] 55.1713-55.1718, 55.1721-55.1728, or 55.174 [of this
5-17 code], except that the board shall review all real property to be
5-18 financed by bonds issued under those sections to determine whether
5-19 the property meets the standards adopted by the board for cost,
5-20 efficiency, and space use. If the property does not meet those
5-21 standards, the board shall notify the governor, the lieutenant
5-22 governor, the speaker of the house of representatives, and the
5-23 Legislative Budget Board.
5-24 SECTION 5. Section 61.058(b), Education Code, is amended to
5-25 read as follows:
5-26 (b) This section does not apply to construction, repair, or
5-27 rehabilitation financed by bonds issued under Section 55.17(e)(3)
5-28 or (4), [or] 55.1713-55.1718, 55.1721-55.1728, or 55.174 [of this
5-29 code], except that the board shall review all construction, repair,
5-30 or rehabilitation to be financed by bonds issued under those
5-31 sections to determine whether the construction, rehabilitation, or
5-32 repair meets the standards adopted by board rule for cost,
5-33 efficiency, and space use. If the construction, rehabilitation, or
5-34 repair does not meet those standards, the board shall notify the
5-35 governor, the lieutenant governor, the speaker of the house of
5-36 representatives, and the Legislative Budget Board.
5-37 SECTION 6. The importance of this legislation and the
5-38 crowded condition of the calendars in both houses create an
5-39 emergency and an imperative public necessity that the
5-40 constitutional rule requiring bills to be read on three several
5-41 days in each house be suspended, and this rule is hereby suspended,
5-42 and that this Act take effect and be in force from and after its
5-43 passage, and it is so enacted.
5-44 * * * * *