By Dunnam H.B. No. 963 77R4281 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 55.1739 to read as follows: 1-7 Sec. 55.1739. 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 $22 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. The amount of a pledge made 1-22 under this subsection may not be reduced or abrogated while the 1-23 bonds for which the pledge is made, or bonds issued to refund those 1-24 bonds, 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 State 2-4 Technical College 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 duties and purposes. 2-7 SECTION 2. This Act takes effect immediately if it receives 2-8 a vote of two-thirds of all the members elected to each house, as 2-9 provided by Section 39, Article III, Texas Constitution. If this 2-10 Act does not receive the vote necessary for immediate effect, this 2-11 Act takes effect September 1, 2001.