TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB2543 by Hamric (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.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($3,923,305) |
2007 | ($3,923,305) |
2008 | ($3,923,305) |
2009 | ($3,923,305) |
2010 | ($3,923,305) |
Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
---|---|
2006 | ($3,923,305) |
2007 | ($3,923,305) |
2008 | ($3,923,305) |
2009 | ($3,923,305) |
2010 | ($3,923,305) |
The bill amends Subchapter B, Chapter 55 of the Education Code by adding Section 55.1752 which would authorize The University of Texas System to issue additional revenue bonds in an amount not to exceed $45,000,000. The debt service payments will be $3,923,305 in each year of the 2006-07 biennium.
The board of regents of The University of Texas System would 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 with the proceeds of the bonds authorized in the subchapter
In addition the bill states the board may pledge irrevocably all or any part of the revenue funds, including student tuition charges of The University of Texas System for payment of the bonds. Furthermore, if funds are not available to meet the bond obligations authorized by this section, the section authorizes the board of regents to transfer funds among institutions, branches, and entities of The University of Texas System in an equitable manner to ensure each the most equitable and efficient allocation of available resources for each institution, branch, or entity to carry out its duties and purposes.
Source Agencies: | 352 Bond Review Board, 720 The University of Texas System Administration
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LBB Staff: | JOB, CT, RT, MM
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