By: Brown, Jackson S.B. No. 299
99S0129/1
A BILL TO BE ENTITLED
AN ACT
1-1 relating to the issuance of revenue bonds for the University of
1-2 Houston-Clear Lake.
1-3 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
1-4 SECTION 1. Subsection (a), Section 55.1723, Education Code,
1-5 is amended to read as follows: (a) In addition to the other
1-6 authority granted by this subchapter, the board of regents of the
1-7 University of Houston System may acquire, purchase, construct,
1-8 improve, renovate, enlarge, or equip property, buildings,
1-9 structures, facilities, roads, or related infrastructure for the
1-10 following institutions to be financed by the issuance of bonds in
1-11 accordance with this subchapter and in accordance with a systemwide
1-12 revenue financing program adopted by the board in an aggregate
1-13 principal amount not to exceed the following amounts:
1-14 (1) the University of Houston, $12 million;
1-15 (2) the University of Houston-Downtown, $7.5 million;
1-16 [and]
1-17 (3) the University of Houston-Victoria, $10 million;
1-18 and
1-19 (4) the University of Houston-Clear Lake, $20 million.
1-20 SECTION 2. This Act takes effect September 1, 1999.
1-21 SECTION 3. The importance of this legislation and the
1-22 crowded condition of the calendars in both houses create an
1-23 emergency and an imperative public necessity that the
1-24 constitutional rule requiring bills to be read on three several
2-1 days in each house be suspended and this rule is hereby suspended.