By: Blanco S.B. No. 846
 
 
 
   
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the insurance of revenue bonds for certain
  capital projects at Texas Tech University Health Sciences Center at
  El Paso.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.17999 to read as follows:
         Sec. 55.17999.  TEXAS TECH UNIVERSITY HEALTH SCIENCES CENTER
  AT EL PASO; ADDITIONAL BONDS.  (a)  In addition to the other
  authority granted under this subchapter, the board of regents of
  the Texas Tech University System may acquire, purchase, construct,
  improve, renovate, enlarge, or equip property and facilities,
  including roads and related infrastructure, for Texas Tech
  University Health Sciences Center at El Paso for construction and
  equipment of an oral and medical comprehensive health care center
  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
  $236,997,000.
         (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 Tech
  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 Tech
  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, 2023.