81R6846 KJM-F
By: Gallegos S.B. No. 1339
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for the
University of Houston Multi-Cultural Studies and Classroom
Complex.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.1773 to read as follows:
Sec. 55.1773. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted under this
subchapter, the board of regents of the University of Houston
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property, buildings, structures, facilities,
roads, or related infrastructure for the University of Houston
Multi-Cultural Studies and Classroom Complex, to 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 an aggregate
principal amount not to exceed $27 million.
(b) The board may pledge irrevocably to the payment of the
bonds authorized by Subsection (a) all or any part of the revenue
funds of an institution, branch, or entity of the University of
Houston 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 Houston 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. 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, 55.1744, 55.1751-55.17592, [or] 55.1768, or
55.1773, 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, 55.1744, 55.1751-55.17592, [or] 55.1768, or 55.1773,
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.