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A BILL TO BE ENTITLED
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AN ACT
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relating to authorizing the issuance of revenue bonds for The |
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University of Texas Health Science Center at Tyler. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter B, Chapter 55, Education Code, is |
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amended by adding Section 55.175 to read as follows: |
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Sec. 55.175. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of The University of Texas System |
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may acquire, purchase, construct, improve, renovate, enlarge, or |
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equip property, buildings, structures, or other facilities, |
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including roads and related infrastructure, for The University of |
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Texas Health Science Center at Tyler, be financed by the issuance of |
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bonds in accordance with this subchapter, including bonds issued in |
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accordance with a systemwide revenue financing program and secured |
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as provided by that program, in the aggregate principal amount of |
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$13.3 million. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by Subsection (a) all or any part of the revenue funds of |
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an institution, branch, or entity of The University of Texas |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of The University |
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of Texas System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its constitutional and statutory duties and |
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purposes. |
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SECTION 2. Section 61.0572(e), Education Code, is amended |
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to read as follows: |
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(e) Approval of the board is not required to acquire real |
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property that is financed by bonds issued under Section 55.17(e)(3) |
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or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1) 55.174, |
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55.1742, 55.1743, [or] 55.1744, or 55.175, except that the board |
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shall review all real property to be financed by bonds issued under |
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those sections to determine whether the property meets the |
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standards adopted by the board for cost, efficiency, and space use. |
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If the property does not meet those standards, the board shall |
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notify the governor, the lieutenant governor, the speaker of the |
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house of representatives, and the Legislative Budget Board. |
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SECTION 3. Section 61.058(b), Education Code, is amended to |
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read as follows: |
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(b) This section does not apply to construction, repair, or |
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rehabilitation financed by bonds issued under Section 55.17(e)(3) |
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or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742, |
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55.1743, [or] 55.1744, or 55.175, except that the board shall |
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review all construction, repair, or rehabilitation to be financed |
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by bonds issued under those sections to determine whether the |
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construction, rehabilitation, or repair meets the standards |
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adopted by board rule for cost, efficiency, and space use. If the |
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construction, rehabilitation, or repair does not meet those |
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standards, the board shall notify the governor, the lieutenant |
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governor, the speaker of the house of representatives, and the |
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Legislative Budget Board. |
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SECTION 4. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2009. |