By Sibley S.B. No. 1596 76R5899 KEL-D A BILL TO BE ENTITLED 1-1 AN ACT 1-2 relating to authorizing the issuance of revenue bonds for the Texas 1-3 State Technical College 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 55.175 to read as follows: 1-7 Sec. 55.175. TEXAS STATE TECHNICAL COLLEGE SYSTEM. (a) In 1-8 addition to the other authority granted by this subchapter, the 1-9 board of regents of the Texas State Technical College System may 1-10 acquire, purchase, construct, improve, renovate, enlarge, or equip 1-11 property, buildings, structures, facilities, roads, or related 1-12 infrastructure for the Texas State Technical College System, 1-13 including the individual campuses of the system, to be financed by 1-14 the issuance of bonds in accordance with this subchapter, including 1-15 bonds issued in accordance with a systemwide revenue financing 1-16 program and secured as provided by that program in an aggregate 1-17 principal amount not to exceed $16.5 million. 1-18 (b) The board may pledge irrevocably to the payment of those 1-19 bonds all or any part of the revenue funds of an institution, 1-20 branch, or entity of the Texas State Technical College System, 1-21 including student tuition charges required or authorized by law to 1-22 be imposed on students enrolled at an institution, branch, or 1-23 entity of the Texas State Technical College System. The amount of 1-24 a pledge made under this subsection may not be reduced or abrogated 2-1 while the bonds for which the pledge is made, or bonds issued to 2-2 refund those bonds, are outstanding. 2-3 (c) If sufficient funds are not available to the board to 2-4 meet its obligations under this section, the board may transfer 2-5 funds among institutions, branches, and entities of the Texas State 2-6 Technical College System to ensure the most equitable and efficient 2-7 allocation of available resources for each institution, branch, or 2-8 entity to carry out its constitutional and statutory duties and 2-9 purposes. 2-10 SECTION 2. The importance of this legislation and the 2-11 crowded condition of the calendars in both houses create an 2-12 emergency and an imperative public necessity that the 2-13 constitutional rule requiring bills to be read on three several 2-14 days in each house be suspended, and this rule is hereby suspended, 2-15 and that this Act take effect and be in force from and after its 2-16 passage, and it is so enacted.