By: Coleman H.B. No. 1173
 
 
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds or other
obligations to fund capital projects at public institutions of
higher education; making an appropriation.
       BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
       SECTION 1.  Subchapter B, Chapter 55, Section 55.17591
Education Code, is amended to read as follows:
       Sec. 55.17591.  TEXAS SOUTHERN UNIVERSITY; ADDITIONAL
BONDS.  (a)  In addition to the other authority granted by this
subchapter, the board of regents of Texas Southern University may
acquire, purchase, construct, improve, renovate, enlarge, or equip
facilities, including roads and related infrastructure, for
projects at Texas Southern University, to be financed through the
issuance of bonds in accordance with this subchapter not to exceed
the following aggregate principal amounts for the projects
specified as follows:
             (1)  $31,500,000 $29,500,000 for the School of Science
and Technology; and
             (2)  $15 $17 million for a branch campus multipurpose
Academic Center (MAC) existing debt on deferred maintenance costs
at Texas Southern University.
       (b)  The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Texas Southern University, including student tuition charges. The
amount of a pledge made under this subsection may not be reduced or
abrogated while the bonds for which the pledge is made, or bonds
issued to refund those bonds, are outstanding.
       (c)  Notwithstanding Subsection (a), the board of regents of
Texas Southern University may not issue bonds under this section
for a branch campus multipurpose Academic Center (MAC) until the
Texas Higher Education Coordinating Board grants Texas Southern
University the approval to operate the branch campus. If approval
to operate the branch campus is not granted by January 1, 2010, the
board of regents' authority to issue bonds for a multipurpose
Academic Center (MAC) under this section expires on that date.
       SECTION 2.  This Act does not affect any authority or
restriction regarding the activities that a public institution of
higher education may conduct in connection with a facility financed
by bonds authorized by this Act.
       SECTION 3.  This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution.  If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect on September 1, 2007.