By Gutierrez                                           H.B. No. 104
         77R744 QS-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     A&M University 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 TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
 1-8     BONDS. (a)  In addition to the other authority granted by this
 1-9     subchapter, the board of regents of The Texas A&M University System
1-10     may acquire, purchase, construct, improve, renovate, enlarge, or
1-11     equip property, buildings, structures, facilities, roads, or
1-12     related infrastructure for The Texas A&M University System's South
1-13     Texas Center for Rural Public Health in McAllen to be financed by
1-14     the issuance of bonds in accordance with this subchapter and in
1-15     accordance with a systemwide revenue financing program adopted by
1-16     the board in an aggregate principal amount not to exceed $4.5
1-17     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 A&M University System, including
1-21     student tuition charges.  The amount of a pledge made under this
1-22     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 Texas A&M
 2-4     University 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 constitutional and statutory duties and
 2-7     purposes.
 2-8           SECTION 2.   This Act takes effect immediately if it receives
 2-9     a vote of two-thirds of all the members elected to each house, as
2-10     provided by Section 39, Article III, Texas Constitution.  If this
2-11     Act does not receive the vote necessary for immediate effect, this
2-12     Act takes effect September 1, 2001.