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  84R7988 JSL-F
 
  By: Lozano H.B. No. 1467
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for a
  classroom building at Texas A&M University--Kingsville.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.17813 to read as follows:
         Sec. 55.17813.  TEXAS A&M UNIVERSITY--KINGSVILLE;
  ADDITIONAL BONDS.  (a)  In addition to the other authority granted
  under 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, technology,
  engineering, and mathematics classroom building at Texas A&M
  University--Kingsville to be financed by the issuance of bonds in
  accordance with a systemwide revenue financing program and secured
  as provided by that program, in an aggregate principal amount not to
  exceed $93 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 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 September 1, 2015.