83S10156 JRJ-D
By: Nichols S.B. No. 26
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for a
multipurpose education building at Lamar State College--Orange.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.1784 to read as follows:
Sec. 55.1784. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the Texas State University
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for a multipurpose education building at
Lamar State College--Orange, to be financed through 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 $15 million.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the Texas State 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 State
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. (a) If S.B. No. 215, Acts of the 83rd
Legislature, Regular Session, 2013, does not become law, Subsection
(e), Section 61.0572, 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, 55.1768, 55.1771,
[or] 55.17721, or 55.1784, 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.
(b) If S.B. No. 215, Acts of the 83rd Legislature, Regular
Session, 2013, becomes law, this section has no effect.
SECTION 3. (a) If S.B. No. 215, Acts of the 83rd
Legislature, Regular Session, 2013, does not become law, Subsection
(b), Section 61.058, 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, 55.1768, 55.1771, [or]
55.17721, or 55.1784, 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.
(b) If S.B. No. 215, Acts of the 83rd Legislature, Regular
Session, 2013, becomes law, this section has no effect.
SECTION 4. This Act does not affect any authority or
restriction regarding the activities that a public institution of
higher education may conduct in connection with a facility financed
by bonds authorized by this Act.
SECTION 5. This Act takes effect October 1, 2013.