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  83S10155 KSD-D
 
  By: Nichols S.B. No. 25
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for a
  Science, Technology, Engineering, and Mathematics Education and
  Research Center at Stephen F. Austin State University.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.1788 to read as follows:
         Sec. 55.1788.  STEPHEN F. AUSTIN STATE UNIVERSITY;
  ADDITIONAL BONDS.  (a) In addition to the other authority granted
  under this subchapter, the board of regents of Stephen F. Austin
  State University may acquire, purchase, construct, improve,
  renovate, enlarge, or equip property and facilities, including
  roads and related infrastructure, for a Science, Technology,
  Engineering, and Mathematics Education and Research Center at
  Stephen F. Austin State University, to be financed by the issuance
  of bonds in accordance with this subchapter in an aggregate
  principal amount not to exceed $50 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 Stephen F. Austin State 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)  Any portion of the proceeds of bonds authorized by this
  section that is not required for the specified project for which the
  bonds are authorized may be used to renovate existing structures
  and facilities at the institution.
         SECTION 2.  (a)  If S.B. No. 215, 83rd Legislature, Regular
  Session, 2013, does not become law, Subsection (e), Section
  61.0572, 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, 55.1768, 55.1771,
  [or] 55.17721, or 55.1788, 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.
         (b)  If S.B. No. 215, 83rd Legislature, Regular Session,
  2013, becomes law, this section has no effect.
         SECTION 3.  (a)  If S.B. No. 215, 83rd Legislature, Regular
  Session, 2013, does not become law, Subsection (b), Section 61.058,
  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, 55.1768, 55.1771, [or]
  55.17721, or 55.1788, 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.
         (b)  If S.B. No. 215, 83rd Legislature, Regular Session,
  2013, becomes law, this section has no effect.
         SECTION 4.  This Act takes effect October 1, 2013.