By Gutierrez H.B. No. 105 77R1250 KEL-D 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 Texas--Pan American. 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 55.1732 to read as follows: 1-7 Sec. 55.1732. THE UNIVERSITY OF TEXAS--PAN AMERICAN. (a) In 1-8 addition to other authority granted by this subchapter, the board 1-9 of regents of The University of Texas System may acquire, purchase, 1-10 construct, improve, renovate, enlarge, or equip property, 1-11 buildings, structures, facilities, roads, or related infrastructure 1-12 for an instructional facility for The University of Texas--Pan 1-13 American to be located in Starr County and financed by the issuance 1-14 of bonds in accordance with this subchapter in an aggregate 1-15 principal amount not to exceed $10 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 The University of 1-18 Texas--Pan American, including student tuition charges. The amount 1-19 of a pledge made under this subsection may not be reduced or 1-20 abrogated while the bonds for which the pledge is made, or bonds 1-21 issued to refund those bonds, are outstanding. 1-22 (c) If sufficient funds are not available to the board to 1-23 meet its obligations under this section, the board may transfer 1-24 funds among institutions, branches, and entities of The University 2-1 of Texas System to ensure the most equitable and efficient 2-2 allocation of available resources for each institution, branch, or 2-3 entity to carry out its constitutional and statutory duties and 2-4 purposes. 2-5 SECTION 2. This Act takes effect immediately if it receives 2-6 a vote of two-thirds of all the members elected to each house, as 2-7 provided by Section 39, Article III, Texas Constitution. If this 2-8 Act does not receive the vote necessary for immediate effect, this 2-9 Act takes effect September 1, 2001.