By: Maldonado H.B. No. 4172
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for Texas
A & M University System Health Science Center for the Health
Professions Education Center in Round Rock.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.1721 to read as follows:
Sec. 55.1721. TEXAS A & M UNIVERSITY--HEALTH PROFESSIONS
EDUCATION CENTER--ROUND ROCK. (a) In addition to the other
authority granted under this subchapter, the board of regents of
the Texas A & M University System may acquire, purchase, construct,
improve, renovate, enlarge, or equip property, buildings,
structures, or other facilities, including roads and related
infrastructure, for Texas A & M University College of Medicine for
the Health Professions Education Center -Round Rock, to be financed
by the issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board, in an aggregate principal amount not to exceed
$60,000,000.
(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 A & M
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 A & M
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 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.