TO: | Honorable Geanie Morrison, Chair, House Committee on Higher Education |
FROM: | John S. O'Brien, Deputy Director, Legislative Budget Board |
IN RE: | HB3069 by Villarreal (Relating to authorizing the issuance of revenue bonds for The University of Texas at San Antonio - Loop 1604 Campus Academic Building Phase IV.), As Introduced |
Fiscal Year | Probable Net Positive/(Negative) Impact to General Revenue Related Funds |
---|---|
2006 | ($4,359,228) |
2007 | ($4,359,228) |
2008 | ($4,359,228) |
2009 | ($4,359,228) |
2010 | ($4,359,228) |
Fiscal Year | Probable (Cost) from GENERAL REVENUE FUND 1 |
---|---|
2006 | ($4,359,228) |
2007 | ($4,359,228) |
2008 | ($4,359,228) |
2009 | ($4,359,228) |
2010 | ($4,359,228) |
The bill would authorize the issuance of a maximum of $50,000,000 in revenue bonds by the University of Texas System for the University of Texas at San Antonio to finance infrastructure capital improvements, including the Loop 1604 Campus Academic Building Phase IV..
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, 720 The University of Texas System Administration
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LBB Staff: | JOB, CT, SD, RT, GO
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