TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John Keel, Director, Legislative Budget Board |
IN RE: | HB3351 by Davis, John (Relating to authorizing the issuance of revenue bonds for The University of Texas Health Science Center at Houston for the replacement of research and academic facilities lost in Tropical Storm Allison.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2004 | ($2,408,000) |
2005 | ($2,408,000) |
2006 | ($2,408,000) |
2007 | ($2,408,000) |
2008 | ($2,408,000) |
Fiscal Year | Probable (Cost) fromGENERAL REVENUE FUND 1 |
---|---|
2004 | ($2,408,000) |
2005 | ($2,408,000) |
2006 | ($2,408,000) |
2007 | ($2,408,000) |
2008 | ($2,408,000) |
The University of Texas System Administration assumed the bonds would be issued during fiscal year 2004 at a 5.00 percent interest rate with a 20-year level debt service amortization. Based on calculations prepared by The University of Texas System Administration, debt service payments would be $2,408,000 for fiscal year 2004 and would be $2,408,000 for fiscal year 2005.
No amounts are included for operations and maintenance costs related to additional facilities. Operations and maintenance costs are provided to institutions of higher education based on predicted square feet not actual square feet. However, if the increased space resulted in an increase in predicted square feet, operations and maintenance cost would increase.
Source Agencies: | 347 Public Finance Authority, 352 Bond Review Board, 720 The University of Texas System Administration, 781 Higher Education Coordinating Board
|
LBB Staff: | JK, JO, CT, PF, GS
|