By: Merritt H.B. No. 3652
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for The
University of Texas Health Science Center at Tyler.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.175 to read as follows:
Sec. 55.175. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of The University of Texas System
may acquire, purchase, construct, improve, renovate, enlarge, or
equip property, buildings, structures, or other facilities,
including roads and related infrastructure, for The University of
Texas Health Science Center at Tyler, be financed by 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 the aggregate principal amount of
$13.3 million.
(b) The board may pledge irrevocably to the payment of bonds
authorized by Subsection (a) all or any part of the revenue funds of
an institution, branch, or entity of The University of Texas
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 Texas System to ensure the most equitable and efficient
allocation of available resources for each institution, branch, or
entity to carry out its constitutional and statutory duties and
purposes.
SECTION 2. Section 61.0572(e), Education Code, is amended
to read as follows:
(e) Approval of the board is not required to acquire real
property that is financed by bonds issued under Section 55.17(e)(3)
or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1) 55.174,
55.1742, 55.1743, [or] 55.1744, or 55.175, except that the board
shall review all real property to be financed by bonds issued under
those sections to determine whether the property meets the
standards adopted by the board for cost, efficiency, and space use.
If the property does not meet those standards, the board shall
notify the governor, the lieutenant governor, the speaker of the
house of representatives, and the Legislative Budget Board.
SECTION 3. Section 61.058(b), Education Code, is amended to
read as follows:
(b) This section does not apply to construction, repair, or
rehabilitation financed by bonds issued under Section 55.17(e)(3)
or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742,
55.1743, [or] 55.1744, or 55.175, except that the board shall
review all construction, repair, or rehabilitation to be financed
by bonds issued under those sections to determine whether the
construction, rehabilitation, or repair meets the standards
adopted by board rule for cost, efficiency, and space use. If the
construction, rehabilitation, or repair does not meet those
standards, the board shall notify the governor, the lieutenant
governor, the speaker of the house of representatives, and the
Legislative Budget Board.
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, 2009.