| 1 | 1 | | 81R3152 SJM-D |
|---|
| 2 | 2 | | By: Rose H.B. No. 713 |
|---|
| 3 | 3 | | |
|---|
| 4 | 4 | | |
|---|
| 5 | 5 | | A BILL TO BE ENTITLED |
|---|
| 6 | 6 | | AN ACT |
|---|
| 7 | 7 | | relating to authorizing the issuance of revenue bonds for the |
|---|
| 8 | 8 | | construction of a recital hall and theater center at Texas State |
|---|
| 9 | 9 | | University--San Marcos. |
|---|
| 10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
|---|
| 11 | 11 | | SECTION 1. Subchapter B, Chapter 55, Education Code, is |
|---|
| 12 | 12 | | amended by adding Section 55.1774 to read as follows: |
|---|
| 13 | 13 | | Sec. 55.1774. TEXAS STATE UNIVERSITY--SAN MARCOS. (a) In |
|---|
| 14 | 14 | | addition to the other authority granted under this subchapter, the |
|---|
| 15 | 15 | | board of regents of the Texas State University System may acquire, |
|---|
| 16 | 16 | | purchase, construct, improve, renovate, enlarge, or equip |
|---|
| 17 | 17 | | property, buildings, structures, or other facilities, including |
|---|
| 18 | 18 | | roads and related infrastructure, for a recital hall and theater |
|---|
| 19 | 19 | | center at Texas State University--San Marcos, to be financed by the |
|---|
| 20 | 20 | | issuance of bonds in accordance with this subchapter and in |
|---|
| 21 | 21 | | accordance with a systemwide revenue financing program adopted by |
|---|
| 22 | 22 | | the board, in an aggregate principal amount not to exceed $52 |
|---|
| 23 | 23 | | million. |
|---|
| 24 | 24 | | (b) The board may pledge irrevocably to the payment of the |
|---|
| 25 | 25 | | bonds authorized by this section all or any part of the revenue |
|---|
| 26 | 26 | | funds of an institution, branch, or entity of the Texas State |
|---|
| 27 | 27 | | University System, including student tuition charges. The amount |
|---|
| 28 | 28 | | of a pledge made under this subsection may not be reduced or |
|---|
| 29 | 29 | | abrogated while the bonds for which the pledge is made, or bonds |
|---|
| 30 | 30 | | issued to refund those bonds, are outstanding. |
|---|
| 31 | 31 | | (c) If sufficient funds are not available to the board to |
|---|
| 32 | 32 | | meet its obligations under this section, the board may transfer |
|---|
| 33 | 33 | | funds among institutions, branches, and entities of the Texas State |
|---|
| 34 | 34 | | University System to ensure the most equitable and efficient |
|---|
| 35 | 35 | | allocation of available resources for each institution, branch, or |
|---|
| 36 | 36 | | entity to carry out its duties and purposes. |
|---|
| 37 | 37 | | SECTION 2. Section 61.0572(e), Education Code, is amended |
|---|
| 38 | 38 | | to read as follows: |
|---|
| 39 | 39 | | (e) Approval of the board is not required to acquire real |
|---|
| 40 | 40 | | property that is financed by bonds issued under Section 55.17(e)(3) |
|---|
| 41 | 41 | | or (4), 55.1713-55.1718, 55.1721-55.1728, 55.1735(a)(1), 55.174, |
|---|
| 42 | 42 | | 55.1742, 55.1743, 55.1744, 55.1751-55.17592, [or] 55.1768, or |
|---|
| 43 | 43 | | 55.1774, except that the board shall review all real property to be |
|---|
| 44 | 44 | | financed by bonds issued under those sections to determine whether |
|---|
| 45 | 45 | | the property meets the standards adopted by the board for cost, |
|---|
| 46 | 46 | | efficiency, and space use. If the property does not meet those |
|---|
| 47 | 47 | | standards, the board shall notify the governor, the lieutenant |
|---|
| 48 | 48 | | governor, the speaker of the house of representatives, and the |
|---|
| 49 | 49 | | Legislative Budget Board. |
|---|
| 50 | 50 | | SECTION 3. Section 61.058(b), Education Code, is amended to |
|---|
| 51 | 51 | | read as follows: |
|---|
| 52 | 52 | | (b) This section does not apply to construction, repair, or |
|---|
| 53 | 53 | | rehabilitation financed by bonds issued under Section 55.17(e)(3) |
|---|
| 54 | 54 | | or (4), 55.1713-55.1718, 55.1721-55.1728, 55.174, 55.1742, |
|---|
| 55 | 55 | | 55.1743, 55.1744, 55.1751-55.17592, [or] 55.1768, or 55.1774, |
|---|
| 56 | 56 | | except that the board shall review all construction, repair, or |
|---|
| 57 | 57 | | rehabilitation to be financed by bonds issued under those sections |
|---|
| 58 | 58 | | to determine whether the construction, rehabilitation, or repair |
|---|
| 59 | 59 | | meets the standards adopted by board rule for cost, efficiency, and |
|---|
| 60 | 60 | | space use. If the construction, rehabilitation, or repair does not |
|---|
| 61 | 61 | | meet those standards, the board shall notify the governor, the |
|---|
| 62 | 62 | | lieutenant governor, the speaker of the house of representatives, |
|---|
| 63 | 63 | | and the Legislative Budget Board. |
|---|
| 64 | 64 | | SECTION 4. This Act takes effect immediately if it receives |
|---|
| 65 | 65 | | a vote of two-thirds of all the members elected to each house, as |
|---|
| 66 | 66 | | provided by Section 39, Article III, Texas Constitution. If this |
|---|
| 67 | 67 | | Act does not receive the vote necessary for immediate effect, this |
|---|
| 68 | 68 | | Act takes effect September 1, 2009. |
|---|