TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB1524 by Crownover (Relating to authorizing the issuance of revenue bonds for the University of North Texas.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($7,865,000) |
2007 | ($7,865,000) |
2008 | ($7,865,000) |
2009 | ($7,865,000) |
2010 | ($7,865,000) |
Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
---|---|
2006 | ($7,865,000) |
2007 | ($7,865,000) |
2008 | ($7,865,000) |
2009 | ($7,865,000) |
2010 | ($7,865,000) |
The bill would authorize the issuance of a maximum of $94,000,000 in revenue bonds by the University of North Texas System for the University of North Texas to finance infrastructure repairs and improvements.
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 policy is assumed to continue.
Source Agencies: | 347 Public Finance Authority, 352 Bond Review Board, 769 University of North Texas System Administration, 781 Higher Education Coordinating Board
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LBB Staff: | JOB, CT, SD, RT, GO
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