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  83S30069 KSD-D
 
  By: Uresti S.B. No. 11
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for Texas A&M
  University--San Antonio.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.1781 to read as follows:
         Sec. 55.1781.  THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
  BONDS. (a)  In addition to the other authority granted by this
  subchapter, the board of regents of The Texas A&M University System
  may acquire, purchase, construct, improve, renovate, enlarge, or
  equip property and facilities, including roads and related
  infrastructure, for a science and technology building for Texas A&M
  University--San Antonio, 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 $86.5 million.
         (b)  The board may pledge irrevocably to the payment of bonds
  authorized by this section all or any part of the revenue funds of
  an institution, branch, or entity of The Texas A&M 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 A&M
  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.  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 on the 91st day after the
  last day of the legislative session.