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79S10421 KEL-D

By:  Hinojosa                                                     S.B. No. 48 



A BILL TO BE ENTITLED

AN ACT

relating to authorizing the issuance of revenue bonds for The 
University of Texas--Pan American for construction and renovation 
to accommodate institutional growth.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter B, Chapter 55, Education Code, is 
amended by adding Section 55.1752 to read as follows:
	Sec. 55.1752.  THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL 
BONDS.  (a)  In addition to the other authority granted by this 
subchapter, the board of regents of The University of Texas System 
may issue in accordance with this subchapter and in accordance with 
a systemwide revenue financing program and secured as provided by 
that program, bonds for The University of Texas--Pan American not 
to exceed the following aggregate principal amounts to finance 
projects specified as follows:
		(1)  $29,900,000 for the construction and renovation of 
academic infrastructure to accommodate student and faculty 
population growth;
		(2)  $7,500,000 for the construction and renovation of 
infrastructure in Starr County to accommodate student and faculty 
population growth in the university's programs in that county; and
		(3)  $24,000,000 for a multipurpose exercise 
physiology facility that includes research laboratory space, 
kinesiology infrastructure, a natatorium, and instructional tennis 
courts.
	(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 an institution, branch, or entity of The 
University of Texas 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 of 
regents to meet its obligations under this section, the board may 
transfer funds among institutions, branches, and entities of The 
University of Texas 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.  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 55.1752, 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 55.1752, 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.