1-1 By: Barrientos S.B. No. 184
1-2 (In the Senate - Filed January 19, 1999; Janaury 28, 1999,
1-3 read first time and referred to Committee on Education;
1-4 April 6, 1999, reported favorably by the following vote: Yeas 8,
1-5 Nays 0; April 6, 1999, sent to printer.)
1-6 A BILL TO BE ENTITLED
1-7 AN ACT
1-8 relating to the student loan program administered by the Texas
1-9 Higher Education Coordinating Board; authorizing the issuance of
1-10 bonds.
1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-12 SECTION 1. Subdivision (2), Section 52.81, Education Code,
1-13 is amended to read as follows:
1-14 (2) "Bond" means a general obligation bond issued by
1-15 the board under Article III, Section 50b-3, [or] 50b-4, or 50b-5 of
1-16 the Texas Constitution.
1-17 SECTION 2. Subsection (a), Section 52.82, Education Code, is
1-18 amended to read as follows:
1-19 (a) The board may by resolution authorize the issuance of
1-20 general obligation bonds in total aggregate amounts not to exceed:
1-21 (1) $300 million under Section 50b-3, Article III,
1-22 Texas Constitution; [and]
1-23 (2) $300 million under Section 50b-4, Article III,
1-24 Texas Constitution; and
1-25 (3) $400 million under Section 50b-5, Article III,
1-26 Texas Constitution.
1-27 SECTION 3. Section 52.87, Education Code, is amended to read
1-28 as follows:
1-29 Sec. 52.87. MANDAMUS. The performance of official duties
1-30 prescribed by this subchapter and Article III, Sections 50b-3,
1-31 [and] 50b-4, and 50b-5 of the Texas Constitution, in reference to
1-32 the payment of the bonds, may be enforced in a court of competent
1-33 jurisdiction by mandamus or other appropriate proceedings.
1-34 SECTION 4. This Act takes effect on the date on which the
1-35 constitutional amendment proposed by the 76th Legislature, Regular
1-36 Session, 1999, providing for the issuance of $400 million in
1-37 general obligation bonds to finance educational loans to students,
1-38 takes effect. If that amendment is not approved by the voters,
1-39 this Act has no effect.
1-40 SECTION 5. The importance of this legislation and the
1-41 crowded condition of the calendars in both houses create an
1-42 emergency and an imperative public necessity that the
1-43 constitutional rule requiring bills to be read on three several
1-44 days in each house be suspended, and this rule is hereby suspended,
1-45 and that this Act take effect and be in force according to its
1-46 terms, and it is so enacted.
1-47 * * * * *