78R6555 JSA-D

By:  Ogden                                                        S.B. No. 1297



A BILL TO BE ENTITLED

AN ACT

relating to financing a multi-institutional education center in 
Williamson County for Southwest Texas State University.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter B, Chapter 55, Education Code, is 
amended by adding Section 55.1744 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 an institution, 
branch, or entity of the Texas State University System, 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 among institutions, branches, and entities of the Texas State 
University System to ensure the most equitable and efficient 
allocation of available resources for each institution, branch, or 
entity to carry out its duties and purposes.
	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 September 1, 2003.