Honorable Geanie Morrison, Chair, House Committee on Higher Education
John S. O'Brien, Deputy Director, Legislative Budget Board
HB1825 by West, George "Buddy" (Relating to authorizing the issuance of revenue bonds for The University of Texas of the Permian Basin.), As Introduced
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GENERAL REVENUE FUND
The bill would authorize the issuance of a maximum of $54,000,000 in revenue bonds by the University of Texas System for the University of Texas of the Permian Basin to finance infrastructure repairs and improvements, including a campus convocation center and science and technologies comlex.
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.
347 Public Finance Authority, 352 Bond Review Board, 720 The University of Texas System Administration
JOB, CT, SD, RT, GO