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  84R11478 AAF-F
 
  By: Schofield H.B. No. 3323
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the establishment of the University of Houston-Katy
  campus and authorization for the issuance of revenue bonds to fund
  an academic building at the campus.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 111, Education Code, is amended by
  adding Subchapter J to read as follows:
  SUBCHAPTER J. THE UNIVERSITY OF HOUSTON-KATY
         Sec. 111.131.  UNIVERSITY OF HOUSTON-KATY. There is
  established in Harris County a coeducational institution of higher
  education to be known as the University of Houston-Katy. The
  institution shall be located on land currently owned by the
  University of Houston System, land purchased by the University of
  Houston System, or land acquired by the University of Houston
  System by donation.
         Sec. 111.132.  ORGANIZATION AND CONTROL. The organization
  and control of the University of Houston-Katy are vested in the
  board of regents of the University of Houston System. The board of
  regents has all rights, powers, and duties with respect to the
  University of Houston-Katy that it has with respect to the
  organization and control of the University of Houston, except as
  otherwise provided by this subchapter.
         Sec. 111.133.  ROLE AND SCOPE. The University of
  Houston-Katy shall offer undergraduate and graduate programs.
         Sec. 111.134.  GIFTS AND GRANTS.  The board of regents of the
  University of Houston System may accept and administer gifts and
  grants for the use and benefit of the University of Houston-Katy.
         SECTION 2.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.178312 to read as follows:
         Sec. 55.178312.  UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
  BONDS. (a) In addition to the other authority granted by this
  subchapter, the board of regents of the University of Houston
  System may acquire, purchase, construct, improve, renovate,
  enlarge, or equip property and facilities, including roads and
  related infrastructure, for an academic building located in Harris
  County in or near Katy, Texas, to be financed through 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 $58,540,000.
         (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 University of Houston
  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 University
  of Houston 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 3.  The board of regents of the University of Houston
  System, as soon as practicable following the effective date of this
  Act consistent with available resources and any required approval
  by the Texas Higher Education Coordinating Board, shall establish
  the University of Houston-Katy in accordance with this Act.
         SECTION 4.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2015.