1-1     By:  Duncan                                           S.B. No. 1038

 1-2           (In the Senate - Filed March 7, 1997; March 11, 1997, read

 1-3     first time and referred to Committee on Finance; April 8, 1997,

 1-4     reported favorably by the following vote:  Yeas 12, Nays 0;

 1-5     April 8, 1997, sent to printer.)

 1-6                            A BILL TO BE ENTITLED

 1-7                                   AN ACT

 1-8     relating to the authority of the board of regents of Texas Tech

 1-9     University to issue certain bonds and notes on behalf of Texas Tech

1-10     University and Texas Tech University Health Sciences Center.

1-11           BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:

1-12           SECTION 1.  Subsection (c), Section 62.021, Education Code,

1-13     is amended to read as follows:

1-14           (c)  Each governing board participating in the distribution

1-15     of funds as described in this section may issue bonds and notes as

1-16     authorized in Article VII, Section 17, of the Constitution of

1-17     Texas.  For purposes of this chapter, the governing board of Texas

1-18     Tech University may issue bonds and notes as authorized in Article

1-19     VII, Section 17, of the Constitution of Texas, on behalf of both

1-20     Texas Tech University and Texas Tech University Health Sciences

1-21     Center, and the annual appropriations of both institutions may be

1-22     combined and pledged by the governing body of Texas Tech University

1-23     in support of such bonds and notes.

1-24           SECTION 2.  The importance of this legislation and the

1-25     crowded condition of the calendars in both houses create an

1-26     emergency and an imperative public necessity that the

1-27     constitutional rule requiring bills to be read on three several

1-28     days in each house be suspended, and this rule is hereby suspended,

1-29     and that this Act take effect and be in force from and after its

1-30     passage, and it is so enacted.

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