By: Hamric H.B. No. 2543
A BILL TO BE ENTITLED
relating to authorizing the issuance of revenue bonds for The
University of Texas Dental Branch at Houston at The University of
Texas Health Science Center at Houston.
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 acquire, purchase, construct, improve, renovate, enlarge, or
equip property, buildings, structures, facilities, roads, or
related infrastructure for educational or related facilities for
The University of Texas Dental Branch at Houston at The University
of Texas Health Science Center at Houston, 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 $45 million.
(b) The board 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 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. 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.