79S10700 KEL-D

By:  West, Royce                                                  S.B. No. 70 



A BILL TO BE ENTITLED

AN ACT

relating to authorizing the issuance of revenue bonds for the 
University of North Texas System Center at Dallas.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:                        
	SECTION 1.  Subchapter B, Chapter 55, Education Code, is 
amended by adding Section 55.1755 to read as follows:
	Sec. 55.1755.  UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL 
BONDS.  (a)  In addition to the other authority granted by this 
subchapter, the board of regents of the University of North Texas 
System may acquire, purchase, construct, improve, renovate, 
enlarge, or equip property, buildings, structures, or other 
facilities, including roads and related infrastructure, for the 
University of North Texas System Center at Dallas at the location to 
become the University of North Texas at  Dallas, to be financed by 
the issuance of bonds in accordance with this subchapter, including 
bonds issued in accordance with a systemwide revenue financing 
program and secured as provided by that program, in an aggregate 
principal amount not to exceed $30 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 an institution, branch, or entity of the 
University of North 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 North 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.  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.