81R5357 KEL-D
 
  By: Maldonado H.B. No. 1602
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for Texas
  State University--San Marcos for the Round Rock Higher Education
  Center in Williamson County.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.17741 to read as follows:
         Sec. 55.17741.  TEXAS STATE UNIVERSITY--SAN MARCOS. (a)  In
  addition to the other authority granted under this subchapter, the
  board of regents of the Texas State University System may acquire,
  purchase, construct, improve, renovate, enlarge, or equip
  property, buildings, structures, or other facilities, including
  roads and related infrastructure, for Texas State University--San
  Marcos for the Health Professions Building No. 1 at the Round Rock
  Higher Education Center in Williamson County, to be financed by the
  issuance of bonds in accordance with this subchapter and in
  accordance with a systemwide revenue financing program adopted by
  the board, in an aggregate principal amount not to exceed
  $73,366,997.
         (b)  The board may pledge irrevocably to the payment of the
  bonds authorized by this section all or any part of the revenue
  funds of an institution, branch, or entity of the Texas State
  University System, 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)  If sufficient funds are not available to the board to
  meet its obligations under this section, the board may transfer
  funds among institutions, branches, and entities of the Texas State
  University System to ensure the most equitable and efficient
  allocation of available resources for each institution, branch, or
  entity to carry out its duties and purposes.
         SECTION 2.  Section 61.0572(e), Education Code, is amended
  to read as follows:
         (e)  Approval of the board is not required to acquire real
  property that is financed by bonds issued under Section 55.17(e)(3)
  or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), 55.174,
  55.1742, 55.1743, 55.1744, 55.1751-55.17592, [or] 55.1768, or
  55.17741, except that the board shall review all real property to be
  financed by bonds issued under those sections to determine whether
  the property meets the standards adopted by the board for cost,
  efficiency, and space use. If the property does not meet those
  standards, the board shall notify the governor, the lieutenant
  governor, the speaker of the house of representatives, and the
  Legislative Budget Board.
         SECTION 3.  Section 61.058(b), Education Code, is amended to
  read as follows:
         (b)  This section does not apply to construction, repair, or
  rehabilitation financed by bonds issued under Section 55.17(e)(3)
  or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742,
  55.1743, 55.1744, 55.1751-55.17592, [or] 55.1768, or 55.17741,
  except that the board shall review all construction, repair, or
  rehabilitation to be financed by bonds issued under those sections
  to determine whether the construction, rehabilitation, or repair
  meets the standards adopted by board rule for cost, efficiency, and
  space use. If the construction, rehabilitation, or repair does not
  meet those standards, the board shall notify the governor, the
  lieutenant governor, the speaker of the house of representatives,
  and the Legislative Budget Board.
         SECTION 4.  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 September 1, 2009.