78S10292 KSD-F
By: Pickett H.B. No. 83
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for the Texas
Tech University Health Sciences Center for an academic building to
support the center's educational programs in the city of El Paso.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.1749 to read as follows:
Sec. 55.1749. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
REVENUE BONDS. (a) In addition to the other authority granted by
this subchapter, the board of regents of the Texas Tech University
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property, buildings, structures, or other
facilities, including roads and related infrastructure, for the
Texas Tech University Health Sciences Center for an academic
building to support the center's educational programs in the city
of El Paso, to be financed by the issuance of bonds in accordance
with this subchapter, including bonds issued in accordance with a
systemwide revenue financing program and secured as provided by
that program, in an aggregate principal amount not to exceed $45
million.
(b) The board may pledge irrevocably to the payment of the
bonds authorized by Subsection (a) all or any part of the revenue
funds of Texas Tech University or the Texas Tech University Health
Sciences Center, including student tuition charges. The amount of
a pledge made under this subsection may not be reduced or abrogated
while the bonds for which the pledge is made, or bonds issued to
refund those bonds, are outstanding.
(c) If sufficient funds are not available to the board to
meet its obligations under this section, the board may transfer
funds between Texas Tech University and the Texas Tech University
Health Sciences Center to ensure the most equitable and efficient
allocation of available resources for Texas Tech University and the
Texas Tech University Health Sciences Center to carry out their
duties and purposes.
(d) Any portion of the proceeds of bonds authorized by this
section that is not required for the academic building described by
Subsection (a) may be used by the Texas Tech University System to
renovate existing structures and facilities of the Texas Tech
University Health Sciences Center.
SECTION 2. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect on the 91st day after the last day of the
legislative session.