By Coleman                                            H.B. No. 1641
         76R5789 JSA-F                           
                                A BILL TO BE ENTITLED
 1-1                                   AN ACT
 1-2     relating to authorizing the issuance of revenue bonds for the
 1-3     University of Houston System.
 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 55.1731 to read as follows:
 1-7           Sec. 55.1731.  THE UNIVERSITY OF HOUSTON SYSTEM.  (a)  In
 1-8     addition to the other authority granted by this subchapter, the
 1-9     board of regents of the University of Houston System may acquire,
1-10     purchase, construct, improve, renovate, enlarge, or equip property,
1-11     buildings, structures, facilities, roads, or related infrastructure
1-12     for the University of Houston to be financed by the issuance of
1-13     bonds in accordance with this subchapter and in accordance with a
1-14     systemwide revenue financing program adopted by the board in an
1-15     aggregate principal amount not to exceed $20 million.
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 an institution,
1-18     branch, or entity of the University of Houston System, including
1-19     student tuition charges required or authorized by law to be imposed
1-20     on students enrolled at an institution, branch, or entity of the
1-21     University of Houston System.  The amount of a pledge made under
1-22     this subsection may not be reduced or abrogated while the bonds for
1-23     which the pledge is made, or bonds issued to refund those bonds,
1-24     are outstanding.
 2-1           (c)  If sufficient funds are not available to the board to
 2-2     meet its obligations under this section, the board may transfer
 2-3     funds among institutions, branches, and entities of the University
 2-4     of Houston System to ensure the most equitable and efficient
 2-5     allocation of available resources for each institution, branch, or
 2-6     entity to carry out its duties and purposes.
 2-7           SECTION 2.  The importance of this legislation and the
 2-8     crowded condition of the calendars in both houses create an
 2-9     emergency and an imperative public necessity that the
2-10     constitutional rule requiring bills to be read on three several
2-11     days in each house be suspended, and this rule is hereby suspended.