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A BILL TO BE ENTITLED
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AN ACT
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relating to the establishment of the University of Houston-Katy |
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campus and authorization for the issuance of revenue bonds to fund |
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an academic building at the campus. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 111, Education Code, is amended by |
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adding Subchapter J to read as follows: |
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SUBCHAPTER J. THE UNIVERSITY OF HOUSTON-KATY |
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Sec. 111.131. UNIVERSITY OF HOUSTON-KATY. There is |
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established in Harris County a coeducational institution of higher |
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education to be known as the University of Houston-Katy. The |
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institution shall be located on land currently owned by the |
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University of Houston System, land purchased by the University of |
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Houston System, or land acquired by the University of Houston |
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System by donation. |
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Sec. 111.132. ORGANIZATION AND CONTROL. The organization |
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and control of the University of Houston-Katy are vested in the |
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board of regents of the University of Houston System. The board of |
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regents has all rights, powers, and duties with respect to the |
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University of Houston-Katy that it has with respect to the |
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organization and control of the University of Houston, except as |
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otherwise provided by this subchapter. |
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Sec. 111.133. ROLE AND SCOPE. The University of |
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Houston-Katy shall offer undergraduate and graduate programs. |
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Sec. 111.134. GIFTS AND GRANTS. The board of regents of the |
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University of Houston System may accept and administer gifts and |
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grants for the use and benefit of the University of Houston-Katy. |
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SECTION 2. Subchapter B, Chapter 55, Education Code, is |
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amended by adding Section 55.178312 to read as follows: |
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Sec. 55.178312. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL |
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BONDS. (a) In addition to the other authority granted by this |
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subchapter, the board of regents of the University of Houston |
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System may acquire, purchase, construct, improve, renovate, |
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enlarge, or equip property and facilities, including roads and |
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related infrastructure, for an academic building located in Harris |
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County in or near Katy, Texas, to be financed through the issuance |
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of bonds in accordance with this subchapter, including bonds issued |
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in accordance with a systemwide revenue financing program and |
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secured as provided by that program, in an aggregate principal |
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amount not to exceed $58,540,000. |
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(b) The board may pledge irrevocably to the payment of bonds |
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authorized by this section all or any part of the revenue funds of |
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an institution, branch, or entity of the University of Houston |
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System, including student tuition charges. The amount of a pledge |
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made under this subsection may not be reduced or abrogated while the |
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bonds for which the pledge is made, or bonds issued to refund those |
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bonds, are outstanding. |
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(c) If sufficient funds are not available to the board to |
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meet its obligations under this section, the board may transfer |
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funds among institutions, branches, and entities of the University |
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of Houston System to ensure the most equitable and efficient |
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allocation of available resources for each institution, branch, or |
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entity to carry out its duties and purposes. |
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SECTION 3. The board of regents of the University of Houston |
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System, as soon as practicable following the effective date of this |
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Act consistent with available resources and any required approval |
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by the Texas Higher Education Coordinating Board, shall establish |
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the University of Houston-Katy in accordance with this Act. |
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SECTION 4. This Act takes effect immediately if it receives |
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a vote of two-thirds of all the members elected to each house, as |
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provided by Section 39, Article III, Texas Constitution. If this |
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Act does not receive the vote necessary for immediate effect, this |
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Act takes effect September 1, 2015. |