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H.B. No. 2522
AN ACT
relating to financing authority for certain institutions of higher
education for facilities.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subsection (a), Section 55.1735, Education Code,
is amended to read as follows:
(a) In addition to the other authority granted by this
subchapter, the board of regents of the University of North Texas
System may issue in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board bonds for the following institutions not to exceed the
following aggregate principal amounts to finance projects
specified as follows:
(1) the University of North Texas, $52,933,750 to
construct a science building and to develop the campus and
facilities of the University of North Texas System Center at Dallas
at the location to become the University of North Texas at Dallas;
and
(2) the University of North Texas Health Science
Center at Fort Worth, $27.5 million to construct a biotechnology
center and school of public health building.
SECTION 2. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.1744 to read as follows:
Sec. 55.1744. SOUTHWEST TEXAS STATE UNIVERSITY; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the Texas State University
System may issue bonds in accordance with this subchapter in the
aggregate principal amount not to exceed $27 million to finance the
acquisition, purchase, construction, improvement, renovation,
enlargement, or equipping of property, buildings, structures,
facilities, or related infrastructure for a multi-institutional
education center in Williamson County for Southwest Texas State
University to offer educational programs and supporting activities
and provide facilities for other educational entities to further
institutional efficiency and coordinate educational programs.
(b) The board may pledge irrevocably to the payment of those
bonds all or any part of the revenue funds of Southwest Texas State
University, 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.
SECTION 3. Subsection (e), Section 61.0572, Education Code,
is amended to read as follows:
(e) Approval of the board is not required to acquire real
property that is financed by bonds issued under Section 55.17(e)(3)
or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), [or]
55.174, or 55.1744, except that the board shall review all real
property to be financed by bonds issued under those sections to
determine whether the property meets the standards adopted by the
board for cost, efficiency, and space use. If the property does not
meet those standards, the board shall notify the governor, the
lieutenant governor, the speaker of the house of representatives,
and the Legislative Budget Board.
SECTION 4. Subsection (b), Section 61.058, Education Code,
is amended to read as follows:
(b) This section does not apply to construction, repair, or
rehabilitation financed by bonds issued under Section 55.17(e)(3)
or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), [or]
55.174, or 55.1744, except that the board shall review all
construction, repair, or rehabilitation to be financed by bonds
issued under those sections to determine whether the construction,
rehabilitation, or repair meets the standards adopted by board rule
for cost, efficiency, and space use. If the construction,
rehabilitation, or repair does not meet those standards, the board
shall notify the governor, the lieutenant governor, the speaker of
the house of representatives, and the Legislative Budget Board.
SECTION 5. 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 September 1, 2003.
______________________________ ______________________________
President of the Senate Speaker of the House
I certify that H.B. No. 2522 was passed by the House on May 8,
2003, by the following vote: Yeas 137, Nays 0, 1 present, not
voting; and that the House concurred in Senate amendments to H.B.
No. 2522 on May 30, 2003, by the following vote: Yeas 137, Nays 0,
2 present, not voting.
______________________________
Chief Clerk of the House
I certify that H.B. No. 2522 was passed by the Senate, with
amendments, on May 28, 2003, by the following vote: Yeas 30, Nays
1.
______________________________
Secretary of the Senate
APPROVED: __________________
Date
__________________
Governor