79R5857 KSD-D

By:  Farabee                                                      H.B. No. 1451



A BILL TO BE ENTITLED

AN ACT

relating to authorizing the issuance of revenue bonds for utility 
infrastructure and campus renovations at Midwestern 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 55.1757 to read as follows:
	Sec. 55.1757.  MIDWESTERN STATE UNIVERSITY; ADDITIONAL 
BONDS.  (a)  In addition to the other authority granted by this 
subchapter, the board of regents of Midwestern State University may 
issue bonds in accordance with this subchapter in the aggregate 
principal amount not to exceed $10,395,000 to finance utility 
infrastructure and campus renovations at Midwestern State 
University.
	(b)  The board may pledge irrevocably to the payment of those 
bonds all or any part of the revenue funds of Midwestern 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 55.1757, 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 55.1757, 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 September 1, 2005.