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A JOINT RESOLUTION
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proposing a constitutional amendment to entitle the University of |
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Houston to participate in the income and other benefits of the |
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permanent university fund. |
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BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 18, Article VII, Texas Constitution, is |
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amended by amending Subsections (b) and (f) and adding Subsections |
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(b-1), (b-2), and (f-1) to read as follows: |
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(b) The Board of Regents of The University of Texas System |
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may issue bonds and notes not to exceed a total amount of 10 [20] |
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percent of the cost value of investments and other assets of the |
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permanent university fund (exclusive of real estate) at the time of |
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issuance thereof, and may pledge all or any part of its one-third |
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[two-thirds] interest in the available university fund to secure |
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the payment of the principal and interest of those bonds and notes, |
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for the purpose of acquiring land either with or without permanent |
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improvements, constructing and equipping buildings or other |
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permanent improvements, major repair and rehabilitation of |
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buildings and other permanent improvements, acquiring capital |
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equipment and library books and library materials, and refunding |
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bonds or notes issued under this section or prior law, at or for The |
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University of Texas System administration and the following |
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component institutions of the system: |
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(1) The University of Texas at Arlington; |
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(2) The University of Texas at Austin; |
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(3) The University of Texas at Dallas; |
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(4) The University of Texas at El Paso; |
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(5) The University of Texas of the Permian Basin; |
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(6) The University of Texas at San Antonio; |
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(7) The University of Texas at Tyler; |
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(8) The University of Texas Southwestern Medical |
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[Health Science] Center [at Dallas]; |
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(9) The University of Texas Medical Branch at |
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Galveston; |
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(10) The University of Texas Health Science Center at |
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Houston; |
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(11) The University of Texas Health Science Center at |
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San Antonio; |
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(12) The University of Texas M. D. Anderson [System] |
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Cancer Center; |
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(13) The University of Texas Health Northeast [Center
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at Tyler]; and |
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(14) The University of Texas Institute of Texan |
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Cultures at San Antonio. |
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(b-1) The University of Houston may issue bonds and notes |
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not to exceed a total amount of 10 percent of the cost value of the |
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investments and other assets of the permanent university fund |
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(exclusive of real estate) at the time of the issuance thereof, and |
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may pledge all or any part of its one-third interest in the |
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available university fund to secure the payment of the principal |
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and interest of those bonds and notes, for the purpose of acquiring |
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land either with or without permanent improvements, constructing |
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and equipping buildings or other permanent improvements, major |
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repair and rehabilitation of buildings and other permanent |
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improvements, acquiring capital equipment and library books and |
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library materials, and refunding bonds or notes issued under this |
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section or prior law, at or for the University of Houston. |
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(b-2) In applying a portion of its one-third interest in the |
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available university fund to the payment of the principal of and |
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interest on bonds and notes issued under Subsection (b-1) of this |
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section for the benefit of the University of Houston, the Board of |
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Regents of the University of Houston System shall include |
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sufficient funds to pay the principal of and interest on all bonds |
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and notes, including refunding bonds and notes, previously issued |
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for the benefit of the University of Houston under Section 17(b) of |
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this article. |
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(f) Out of one-third of the annual distribution from the |
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permanent university fund to the available university fund, there |
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shall be appropriated an annual sum sufficient to pay the principal |
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and interest due on the bonds and notes issued by the Board of |
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Regents of The Texas A&M University System under this section and |
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prior law, and the remainder of that one-third of the annual |
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distribution to the available university fund shall be appropriated |
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to the Board of Regents of The Texas A&M University System which |
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shall have the authority and duty in turn to appropriate an |
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equitable portion of the same for the support and maintenance of The |
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Texas A&M University System administration, Texas A&M University, |
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and Prairie View A&M University. The Board of Regents of The Texas |
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A&M University System, in making just and equitable appropriations |
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to Texas A&M University and Prairie View A&M University, shall |
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exercise its discretion with due regard to such criteria as the |
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board may deem appropriate from year to year. Out of one-third [the
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other two-thirds] of the annual distribution from the permanent |
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university fund to the available university fund there shall be |
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appropriated an annual sum sufficient to pay the principal and |
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interest due on the bonds and notes issued by the Board of Regents |
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of The University of Texas System under this section and prior law, |
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and the remainder of that one-third [such two-thirds] of the annual |
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distribution to the available university fund, shall be |
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appropriated for the support and maintenance of The University of |
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Texas at Austin and The University of Texas System administration. |
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Out of one-third of the annual distribution from the permanent |
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university fund to the available university fund, there shall be |
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appropriated an annual sum sufficient to pay the principal and |
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interest due on the bonds and notes issued by the University of |
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Houston under this section, and the remainder of that one-third of |
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the annual distribution to the available university fund shall be |
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appropriated for the support and maintenance of the University of |
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Houston. |
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(f-1) Notwithstanding Subsection (f) of this section, the |
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amount of the annual distribution from the permanent university |
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fund to The University of Texas System under that subsection may not |
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be less than the amount necessary to pay the principal and interest |
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due on bonds and notes issued under Subsection (b) of this section |
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by the Board of Regents of The University of Texas System before |
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September 1, 2015, not to exceed two-thirds of the annual |
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distribution from the permanent university fund, and the amount of |
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the annual distribution from the permanent university fund to the |
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University of Houston shall be adjusted accordingly. |
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SECTION 2. Section 17(b), Article VII, Texas Constitution, |
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is amended to read as follows: |
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(b) The funds appropriated under Subsection (a) of this |
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section shall be for the use of the following eligible agencies and |
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institutions of higher education (even though their names may be |
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changed): |
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(1) East Texas State University including East Texas |
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State University at Texarkana; |
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(2) Lamar University including Lamar University at |
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Orange and Lamar University at Port Arthur; |
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(3) Midwestern State University; |
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(4) University of North Texas; |
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(5) The University of Texas-Pan American including The |
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University of Texas at Brownsville; |
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(6) Stephen F. Austin State University; |
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(7) Texas College of Osteopathic Medicine; |
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(8) Texas State University System Administration and |
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the following component institutions: |
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(9) Sam Houston State University; |
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(10) Southwest Texas State University; |
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(11) Sul Ross State University including Uvalde Study |
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Center; |
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(12) Texas Southern University; |
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(13) Texas Tech University; |
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(14) Texas Tech University Health Sciences Center; |
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(15) Angelo State University; |
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(16) Texas Woman's University; |
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(17) University of Houston System Administration and |
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the following component institutions: |
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(18) [University of Houston;
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[(19)] University of Houston-Victoria; |
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(19) [(20)] University of Houston-Clear Lake; |
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(20) [(21)] University of Houston-Downtown; |
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(21) [(22)] Texas A&M University-Corpus Christi; |
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(22) [(23)] Texas A&M International University; |
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(23) [(24)] Texas A&M University-Kingsville; |
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(24) [(25)] West Texas A&M University; and |
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(25) [(26)] Texas State Technical College System and |
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its campuses, but not its extension centers or programs. |
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SECTION 3. Article VII, Texas Constitution, is amended by |
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adding Section 17A to read as follows: |
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Sec. 17A. TEMPORARY PROVISION. (a) The transfer of the |
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University of Houston from Section 17 of this article to Section 18 |
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of this article by the constitutional amendment proposed by the |
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84th Legislature, Regular Session, 2015, applies beginning with the |
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state fiscal year that begins September 1, 2016. |
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(b) Beginning with the state fiscal year that begins |
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September 1, 2016, the funds allocated as provided by Section 17(d) |
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of this article to the University of Houston shall be allocated to |
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the other agencies and institutions eligible to receive funds under |
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Section 17 of this article in proportion to the other funds |
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allocated to those agencies and institutions as provided by Section |
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17(d) of this article, until the legislature or designated agency |
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eliminates the University of Houston from the formula and |
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allocations made under Section 17(d) of this article. |
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(c) This section expires September 1, 2023. |
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SECTION 4. This proposed constitutional amendment shall be |
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submitted to the voters at an election to be held November 3, 2015. |
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The ballot shall be printed to permit voting for or against the |
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proposition: "The constitutional amendment to entitle the |
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University of Houston to participate in the income and other |
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benefits of the permanent university fund." |