83S20075 KSD-D
 
  By: Howard H.B. No. 30
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for The
  University of Texas at Austin.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.1782 to read as follows:
         Sec. 55.1782.  THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
  BONDS. (a)  In addition to the other authority granted by this
  subchapter, the board of regents of The University of Texas System
  may acquire, purchase, construct, improve, renovate, enlarge, or
  equip property and facilities, including roads and related
  infrastructure, for an engineering education and research center
  for The University of Texas at Austin, to be financed by the
  issuance of bonds in accordance with this subchapter, including
  bonds issued in accordance with a systemwide revenue financing
  program and secured as provided by that program, in an aggregate
  principal amount not to exceed $95 million.
         (b)  The board may pledge irrevocably to the payment of
  bonds authorized by Subsection (a) all or any part of the revenue
  funds of an institution, branch, or entity of The University of
  Texas System, including tuition charges required or authorized by
  law to be imposed on students enrolled at an institution, branch, or
  entity of The University of Texas System. 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 University
  of Texas System to ensure the most equitable and efficient
  allocation of available resources for each institution, branch, or
  entity to carry out its constitutional and statutory duties and
  purposes.
         SECTION 2.  This Act does not affect any authority or
  restriction regarding the activities that a public institution of
  higher education may conduct in connection with a facility financed
  by bonds authorized by this Act.
         SECTION 3.  This Act takes effect November 1, 2013.