79S10179 JRJ-F

By:  Blake                                                        H.B. No. 59 



A BILL TO BE ENTITLED

AN ACT

relating to authorizing the issuance of revenue bonds for Stephen 
F. Austin 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 55.1758 to read as follows:
	Sec. 55.1758.  STEPHEN F. AUSTIN STATE UNIVERSITY.  (a)  In 
addition to the other authority granted by this subchapter, the 
board of regents of Stephen F. Austin State University may acquire, 
purchase, construct, improve, renovate, enlarge, or equip 
property, buildings, structures, or other facilities, including 
roads and related infrastructure, at Stephen F. Austin State 
University, to be financed by the issuance of bonds in accordance 
with this subchapter in an aggregate principal amount not to exceed 
$66,450,000.
	(b)  The board of regents may pledge irrevocably to the 
payment of the bonds authorized by this section all or any part of 
the revenue funds of Stephen F. Austin 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 2.  Section 61.0572(e), 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), 55.174, 
55.1742, 55.1743, [or] 55.1744, or 55.1758, 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 3.  Section 61.058(b), 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, 55.174, 55.1742, 
55.1743, [or] 55.1744, or 55.1758, 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 4.  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.