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.
 1-5           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.