BILL ANALYSIS
Senate Research Center S.B. 1110
79R6527 KEL-D By: Ellis
AUTHOR'S/SPONSOR'S STATEMENT OF INTENT
S.B. 1110 authorizes the issuance of tuition revenue bonds in an amount not to exceed $109,560,000 to support projects at Texas Southern University. These funds are for a multipurpose university center, a fine arts building, a building for the school of technology, the Robert J. Terry Library, and deferred maintenance of campus facilities and infrastructure.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subchapter B, Chapter 55, Education Code, by adding Section 55.17591, as follows:
Sec. 55.17591. TEXAS SOUTHERN UNIVERSITY; ADDITIONAL BONDS. (a) Authorizes the board of regents (board) of Texas Southern University, in addition to the other authority granted by this subchapter, to acquire, purchase, construct, improve, renovate, enlarge, or equip property, building, structures, or other facilities, including roads and related infrastructure, for certain buildings and deferred maintenance of campus facilities and infrastructure, to be financed by the issuance of certain bonds, in an aggregate principal amount not to exceed $109,560,000.
(b) Authorizes the board to pledge irrevocably to the payment of bonds authorized by this section all or any part of the revenue funds of Texas Southern University, including student tuition charges. Prohibits the amount of a pledge made under this subsection from being reduced or abrogated while the bonds for which the pledge is made, or bonds issued to refund those bonds, are outstanding.
SECTION 2. Effective date: upon passage or September 1, 2005