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A BILL TO BE ENTITLED
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AN ACT
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relating to the issuance of general obligation bonds to provide |
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funding to develop and maintain research universities in this state |
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of the highest tier. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter C, Chapter 61, Education Code, is |
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amended by adding Section 61.0585 to read as follows: |
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Sec. 61.0585. BONDS TO SUPPORT DEVELOPMENT OF TIER ONE |
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RESEARCH UNIVERSITIES. The coordinating board shall direct the |
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Texas Public Finance Authority to issue bonds in an amount |
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necessary to provide funds appropriated by the legislature to |
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develop and maintain research universities in this state of the |
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highest tier. |
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SECTION 2. This Act takes effect January 1, 2010, but only |
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if the constitutional amendment proposed by the 81st Legislature, |
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Regular Session, 2009, providing for the issuance of general |
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obligation bonds to provide funding to develop and maintain |
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research universities in this state of the highest tier is approved |
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by the voters. If that amendment is not approved by the voters, |
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this Act has no effect. |