79S10537 KEL-D

By:  Estes                                                        S.B. No. 55 



A BILL TO BE ENTITLED

AN ACT

relating to authorizing the issuance of revenue bonds for Texas 
Woman's 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 55.1756 to read as follows:
	Sec. 55.1756.  TEXAS WOMAN'S UNIVERSITY; ADDITIONAL BONDS.  
(a)  In addition to the other authority granted by this subchapter, 
the board of regents of Texas Woman's University may acquire, 
purchase, construct, improve, renovate, enlarge, or equip 
property, buildings, structures, or other facilities, including 
roads and related infrastructure, for Texas Woman's University, to 
be financed by the issuance of bonds in accordance with this 
subchapter in an aggregate principal amount not to exceed $44.5 
million.
	(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 Texas Woman's 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.  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.