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|---|---|---|---|
| 1 | 1 | By: Alonzo H.B. No. 4591 | |
| 2 | 2 | ||
| 3 | 3 | ||
| 4 | 4 | A BILL TO BE ENTITLED | |
| 5 | 5 | AN ACT | |
| 6 | 6 | relating to the issuance of general obligation bonds to provide | |
| 7 | 7 | funding to develop and maintain research universities in this state | |
| 8 | 8 | of the highest tier. | |
| 9 | 9 | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: | |
| 10 | 10 | SECTION 1. Subchapter C, Chapter 61, Education Code, is | |
| 11 | 11 | amended by adding Section 61.0585 to read as follows: | |
| 12 | 12 | Sec. 61.0585. BONDS TO SUPPORT DEVELOPMENT OF TIER ONE | |
| 13 | 13 | RESEARCH UNIVERSITIES. The coordinating board shall direct the | |
| 14 | 14 | Texas Public Finance Authority to issue bonds in an amount | |
| 15 | 15 | necessary to provide funds appropriated by the legislature to | |
| 16 | 16 | develop and maintain research universities in this state of the | |
| 17 | 17 | highest tier. | |
| 18 | 18 | SECTION 2. This Act takes effect January 1, 2010, but only | |
| 19 | 19 | if the constitutional amendment proposed by the 81st Legislature, | |
| 20 | 20 | Regular Session, 2009, providing for the issuance of general | |
| 21 | 21 | obligation bonds to provide funding to develop and maintain | |
| 22 | 22 | research universities in this state of the highest tier is approved | |
| 23 | 23 | by the voters. If that amendment is not approved by the voters, | |
| 24 | 24 | this Act has no effect. |