TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB1742 by Seaman (Relating to the issuance of revenue bonds for Texas A&M University--Corpus Christi.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($5,064,560) |
2007 | ($5,064,560) |
2008 | ($5,064,560) |
2009 | ($5,064,560) |
2010 | ($5,064,560) |
Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
---|---|
2006 | ($5,064,560) |
2007 | ($5,064,560) |
2008 | ($5,064,560) |
2009 | ($5,064,560) |
2010 | ($5,064,560) |
The bill would authorize the issuance of a maximum of $58 million in revenue bonds by the Texas A&M University System for Texas A&M University - Corpus Christi for construction and improvement of facilities and 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 bond, historically the Legislature has appropriated General Revenue to reimburse institutions for the tuition used to pay the debt service and this policy is assumed to continue.
Source Agencies: | 347 Public Finance Authority, 352 Bond Review Board, 710 Texas A&M University System Administrative and General Offices
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LBB Staff: | JOB, SSh, CT, SD, RT, GO
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