81R12878 KJM-D
 
  By: Hamilton H.B. No. 3847
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for a
  workforce training center at Lamar State College--Orange.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.17746 to read as follows:
         Sec. 55.17746.  TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
  BONDS. (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 Lamar
  State College--Orange for a workforce training center, 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 $3.6 million.
         (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
  55.17746, 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 55.17746,
  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.