By Haywood                                       S.B. No. 790

      75R6938 CAG-D                           

                                A BILL TO BE ENTITLED

 1-1                                   AN ACT

 1-2     relating to the issuance of revenue bonds by Midwestern State

 1-3     University.

 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 55.174 to read as follows:

 1-7           Sec. 55.174.  MIDWESTERN STATE UNIVERSITY.  (a)  The board of

 1-8     regents of Midwestern State University may acquire, purchase,

 1-9     construct, improve, renovate, enlarge, or equip property,

1-10     buildings,  structures, facilities, roads, or other related

1-11     infrastructure for the university, to be financed by the issuance

1-12     of bonds in accordance with this subchapter in the aggregate

1-13     principal amount of $15 million.  The authority granted by this

1-14     section is in addition to authority granted to the board by another

1-15     section of this subchapter.

1-16           (b)  The board may pledge irrevocably to the payment of those

1-17     bonds all or any part of the revenue funds of Midwestern State

1-18     University, including student tuition charges required or

1-19     authorized by law to be imposed on students enrolled at the

1-20     university.  The amount of a pledge made under this subsection may

1-21     not be reduced or abrogated while the bonds for which the pledge is

1-22     made, or bonds issued to refund those bonds, are outstanding.

1-23           SECTION 2.  The importance of this legislation and the

1-24     crowded condition of the calendars in both houses create an

 2-1     emergency and an imperative public necessity that the

 2-2     constitutional rule requiring bills to be read on three several

 2-3     days in each house be suspended, and this rule is hereby suspended,

 2-4     and that this Act take effect and be in force from and after its

 2-5     passage, and it is so enacted.