TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB1419 by Blake (Relating to authorizing the issuance of revenue bonds for Stephen F. Austin State University.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($5,319,750) |
2007 | ($5,807,100) |
2008 | ($5,806,900) |
2009 | ($5,804,800) |
2010 | ($5,805,500) |
Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
---|---|
2006 | ($5,319,750) |
2007 | ($5,807,100) |
2008 | ($5,806,900) |
2009 | ($5,804,800) |
2010 | ($5,805,500) |
The bill would authorize the issuance of $66,450,000 in tuition revenue bonds by Stephen F. Austin State University for improvement of facilities and related infrastructure.
The bonds would be payable from pledged revenue plus tuition. The bonds would not be general obligations of the State. However, the issued bonds would have fiscal implications for the State. Although tuition income is pledged against the bonds, historically the Legislature has appropriated General Revenue to reimburse institutions for the tuition used to pay the debt service. This note assumes the Legislature would continue this policy.
Source Agencies: | 347 Public Finance Authority, 781 Higher Education Coordinating Board, 352 Bond Review Board, 755 Stephen F. Austin State University
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LBB Staff: | JOB, SSh, CT, RT
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