Texas 2015 - 84th Regular

Texas Senate Bill SB245 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	84R2624 JRJ-D
2	2	By: Watson S.B. No. 245
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 to fund
8	8	capital projects at public institutions of higher education.
9	9	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
10	10	SECTION 1. Subchapter B, Chapter 55, Education Code, is
11	11	amended by adding Sections 55.1781, 55.1782, 55.1783, 55.1784,
12	12	55.1785, 55.1786, 55.1787, 55.1788, 55.1789, 55.17891, and
13	13	55.17892 to read as follows:
14	14	Sec. 55.1781. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
15	15	BONDS. (a) In addition to the other authority granted by this
16	16	subchapter, the board of regents of The Texas A&M University System
17	17	may acquire, purchase, construct, improve, renovate, enlarge, or
18	18	equip property and facilities, including roads and related
19	19	infrastructure, for projects to be financed through the issuance of
20	20	bonds in accordance with this subchapter and in accordance with a
21	21	systemwide revenue financing program adopted by the board for the
22	22	following institutions, not to exceed the following aggregate
23	23	principal amounts for the projects specified, as follows:
24	24	(1) Texas A&M University--Commerce, $60,000,000 for
25	25	construction of a nursing and health sciences building;
26	26	(2) Texas A&M University--Corpus Christi,
27	27	$120,000,000 for construction of a life sciences research and
28	28	engineering building;
29	29	(3) Texas A&M University--Kingsville, $77,111,899 for
30	30	construction of a music building;
31	31	(4) Texas A&M University--Texarkana, $40,000,000 for
32	32	construction of an academic and student health sciences building;
33	33	(5) West Texas A&M University:
34	34	(A) $20,000,000 for renovation of the Amarillo
35	35	Center; and
36	36	(B) $53,000,000 for construction of an
37	37	agricultural sciences complex;
38	38	(6) The Texas A&M University System Health Science
39	39	Center:
40	40	(A) $100,000,000 for construction of a
41	41	multidisciplinary research and education facility in Bryan, Texas;
42	42	and
43	43	(B) $119,371,824 for construction of a dental
44	44	clinic facility at the Baylor College of Dentistry;
45	45	(7) Texas A&M International University, $60,625,000
46	46	for construction of an academic and laboratory learning center;
47	47	(8) Prairie View A&M University, $15,000,000 for
48	48	construction of a fabrication center;
49	49	(9) Tarleton State University:
50	50	(A) $85,600,000 for construction of an applied
51	51	sciences building; and
52	52	(B) $99,600,000 for construction of a southwest
53	53	metroplex building for the campus in Midlothian;
54	54	(10) Texas A&M University, $95,000,000 for
55	55	construction of a biocontainment research facility;
56	56	(11) Texas A&M University at Galveston, $134,000,000
57	57	for construction of an academic building;
58	58	(12) Texas A&M University--Central Texas, $40,000,000
59	59	for construction of a multipurpose building;
60	60	(13) Texas A&M University--San Antonio, $70,000,000
61	61	for construction of a science and technology building; and
62	62	(14) the Texas Engineering Experiment Station,
63	63	$65,000,000 for construction of a center for infrastructure
64	64	renewal.
65	65	(b) The board may pledge irrevocably to the payment of bonds
66	66	authorized by this section all or any part of the revenue funds of
67	67	an institution, branch, or entity of The Texas A&M University
68	68	System, including student tuition charges. The amount of a pledge
69	69	made under this subsection may not be reduced or abrogated while the
70	70	bonds for which the pledge is made, or bonds issued to refund those
71	71	bonds, are outstanding.
72	72	(c) If sufficient funds are not available to the board to
73	73	meet its obligations under this section, the board may transfer
74	74	funds among institutions, branches, and entities of The Texas A&M
75	75	University System to ensure the most equitable and efficient
76	76	allocation of available resources for each institution, branch, or
77	77	entity to carry out its duties and purposes.
78	78	(d) The expanded capacity at system institutions
79	79	attributable to the authorization provided for projects under
80	80	Subsection (a) supports the provision of dual credit or career and
81	81	technology education programs in furtherance of the goals of
82	82	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
83	83	Session, 2013.
84	84	Sec. 55.1782. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
85	85	BONDS. (a) In addition to the other authority granted by this
86	86	subchapter, the board of regents of The University of Texas System
87	87	may acquire, purchase, construct, improve, renovate, enlarge, or
88	88	equip property and facilities, including roads and related
89	89	infrastructure, for projects to be financed through the issuance of
90	90	bonds in accordance with this subchapter and in accordance with a
91	91	systemwide revenue financing program adopted by the board for the
92	92	following institutions, not to exceed the following aggregate
93	93	principal amounts for the projects specified, as follows:
94	94	(1) The University of Texas at Austin, $125,000,000
95	95	for renovation of Robert A. Welch Hall;
96	96	(2) The University of Texas--Rio Grande Valley:
97	97	(A) $50,600,000 for construction of a
98	98	multipurpose academic center at the campus in Brownsville; and
99	99	(B) $50,000,000 for construction of an
100	100	interdisciplinary engineering and academic studies building at the
101	101	campus in Edinburg;
102	102	(3) The University of Texas Southwestern Medical
103	103	Center at Dallas, $102,000,000 for the construction and renovation
104	104	of a vivarium;
105	105	(4) The University of Texas Health Science Center at
106	106	San Antonio, $93,800,000 for the renovation of a medical and dental
107	107	education building;
108	108	(5) The University of Texas M. D. Anderson Cancer
109	109	Center, $361,000,000 for construction of the Sheikh Zayed Bin
110	110	Sultan Al Nahyan Building for Personalized Cancer Care;
111	111	(6) The University of Texas Medical Branch at
112	112	Galveston, $90,400,000 for construction of a health education
113	113	center;
114	114	(7) The University of Texas at Arlington, $244,000,000
115	115	for construction of a science and engineering innovation and
116	116	research building;
117	117	(8) The University of Texas at Dallas, $110,000,000
118	118	for construction of an engineering building;
119	119	(9) The University of Texas at El Paso, $117,000,000
120	120	for construction of an interdisciplinary research facility;
121	121	(10) The University of Texas at San Antonio,
122	122	$115,000,000 for construction of an instructional science and
123	123	engineering building;
124	124	(11) The University of Texas at Tyler, $76,000,000 for
125	125	construction of a STEM building;
126	126	(12) The University of Texas Health Science Center at
127	127	Houston, $117,000,000 for the renovation and modernization of a
128	128	medical school building;
129	129	(13) The University of Texas Health Science Center at
130	130	Tyler, $18,500,000 for the renovation of a facility for physician
131	131	residents training; and
132	132	(14) The University of Texas of the Permian Basin,
133	133	$60,000,000 for construction of an engineering building.
134	134	(b) The board may pledge irrevocably to the payment of bonds
135	135	authorized by this section all or any part of the revenue funds of
136	136	an institution, branch, or entity of The University of Texas
137	137	System, including student tuition charges. The amount of a pledge
138	138	made under this subsection may not be reduced or abrogated while the
139	139	bonds for which the pledge is made, or bonds issued to refund those
140	140	bonds, are outstanding.
141	141	(c) If sufficient funds are not available to the board to
142	142	meet its obligations under this section, the board may transfer
143	143	funds among institutions, branches, and entities of The University
144	144	of Texas System to ensure the most equitable and efficient
145	145	allocation of available resources for each institution, branch, or
146	146	entity to carry out its duties and purposes.
147	147	(d) The expanded capacity at system institutions
148	148	attributable to the authorization provided for projects under
149	149	Subsection (a) supports the provision of dual credit or career and
150	150	technology education programs in furtherance of the goals of
151	151	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
152	152	Session, 2013.
153	153	Sec. 55.1783. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
154	154	BONDS. (a) In addition to the other authority granted by this
155	155	subchapter, the board of regents of the University of Houston
156	156	System may acquire, purchase, construct, improve, renovate,
157	157	enlarge, or equip property and facilities, including roads and
158	158	related infrastructure, for projects to be financed through the
159	159	issuance of bonds in accordance with this subchapter and in
160	160	accordance with a systemwide revenue financing program adopted by
161	161	the board for the following institutions or entities, not to exceed
162	162	the following aggregate principal amounts for the projects
163	163	specified, as follows:
164	164	(1) the University of Houston:
165	165	(A) $165,000,000 for construction of a health and
166	166	biomedical sciences center; and
167	167	(B) $91,350,000 for construction of a new
168	168	academic building located in Sugar Land, Texas;
169	169	(2) the University of Houston--Clear Lake:
170	170	(A) $34,200,000 for construction of a health
171	171	sciences and classroom building located in Pearland, Texas; and
172	172	(B) $101,875,000 for construction of a STEM and
173	173	classroom building;
174	174	(3) the University of Houston--Downtown, $104,700,000
175	175	for construction of a science and technology building;
176	176	(4) the University of Houston--Victoria, $85,420,000
177	177	for construction of a science, technology, and classroom building;
178	178	and
179	179	(5) the University of Houston System, $36,540,000 for
180	180	construction of a Cinco Ranch academic building located in the area
181	181	near Katy, Texas.
182	182	(b) The board may pledge irrevocably to the payment of bonds
183	183	authorized by this section all or any part of the revenue funds of
184	184	an institution, branch, or entity of the University of Houston
185	185	System, including student tuition charges. The amount of a pledge
186	186	made under this subsection may not be reduced or abrogated while the
187	187	bonds for which the pledge is made, or bonds issued to refund those
188	188	bonds, are outstanding.
189	189	(c) If sufficient funds are not available to the board to
190	190	meet its obligations under this section, the board may transfer
191	191	funds among institutions, branches, and entities of the University
192	192	of Houston System to ensure the most equitable and efficient
193	193	allocation of available resources for each institution, branch, or
194	194	entity to carry out its duties and purposes.
195	195	(d) The expanded capacity at system institutions
196	196	attributable to the authorization provided for projects under
197	197	Subsection (a) supports the provision of dual credit or career and
198	198	technology education programs in furtherance of the goals of
199	199	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
200	200	Session, 2013.
201	201	Sec. 55.1784. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
202	202	BONDS. (a) In addition to the other authority granted by this
203	203	subchapter, the board of regents of the Texas State University
204	204	System may acquire, purchase, construct, improve, renovate,
205	205	enlarge, or equip property and facilities, including roads and
206	206	related infrastructure, for projects to be financed through the
207	207	issuance of bonds in accordance with this subchapter and in
208	208	accordance with a systemwide revenue financing program adopted by
209	209	the board for the following institutions, not to exceed the
210	210	following aggregate principal amounts for the projects specified,
211	211	as follows:
212	212	(1) Lamar University, $81,000,000 for construction of
213	213	a science and technology building;
214	214	(2) Lamar State College--Orange, $12,500,000 for
215	215	construction of a multipurpose education building;
216	216	(3) Lamar State College--Port Arthur, $10,100,000 for
217	217	expansion of technology program facilities;
218	218	(4) Lamar Institute of Technology, $16,500,000 for
219	219	renovation of the technical arts buildings;
220	220	(5) Texas State University:
221	221	(A) $107,000,000 for construction of an
222	222	engineering and sciences building; and
223	223	(B) $67,500,000 for construction of a medical
224	224	education and research building in Round Rock, Texas;
225	225	(6) Sam Houston State University, $60,000,000 for
226	226	construction of a biology laboratory building; and
227	227	(7) Sul Ross State University, $7,800,000 for
228	228	renovation and modernization of educational and related facilities
229	229	and infrastructure.
230	230	(b) The board may pledge irrevocably to the payment of bonds
231	231	authorized by this section all or any part of the revenue funds of
232	232	an institution, branch, or entity of the Texas State University
233	233	System, including student tuition charges. The amount of a pledge
234	234	made under this subsection may not be reduced or abrogated while the
235	235	bonds for which the pledge is made, or bonds issued to refund those
236	236	bonds, are outstanding.
237	237	(c) If sufficient funds are not available to the board to
238	238	meet its obligations under this section, the board may transfer
239	239	funds among institutions, branches, and entities of the Texas State
240	240	University System to ensure the most equitable and efficient
241	241	allocation of available resources for each institution, branch, or
242	242	entity to carry out its duties and purposes.
243	243	(d) The expanded capacity at system institutions
244	244	attributable to the authorization provided for projects under
245	245	Subsection (a) supports the provision of dual credit or career and
246	246	technology education programs in furtherance of the goals of
247	247	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
248	248	Session, 2013.
249	249	Sec. 55.1785. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL
250	250	BONDS. (a) In addition to the other authority granted by this
251	251	subchapter, the board of regents of the University of North Texas
252	252	System may acquire, purchase, construct, improve, renovate,
253	253	enlarge, or equip property and facilities, including roads and
254	254	related infrastructure, for projects to be financed through the
255	255	issuance of bonds in accordance with this subchapter and in
256	256	accordance with a systemwide revenue financing program adopted by
257	257	the board for the following institutions or entities, not to exceed
258	258	the following aggregate principal amounts for the projects
259	259	specified, as follows:
260	260	(1) the University of North Texas System, $101,000,000
261	261	for renovation of college of law buildings;
262	262	(2) the University of North Texas, $92,000,000 for
263	263	construction and renovation of college of visual arts and design
264	264	facilities;
265	265	(3) the University of North Texas at Dallas,
266	266	$70,000,000 for construction of a student learning and success
267	267	center; and
268	268	(4) the University of North Texas Health Science
269	269	Center at Fort Worth, $121,000,000 for construction of an
270	270	interdisciplinary research building.
271	271	(b) The board may pledge irrevocably to the payment of bonds
272	272	authorized by this section all or any part of the revenue funds of
273	273	an institution, branch, or entity of the University of North Texas
274	274	System, including student tuition charges. The amount of a pledge
275	275	made under this subsection may not be reduced or abrogated while the
276	276	bonds for which the pledge is made, or bonds issued to refund those
277	277	bonds, are outstanding.
278	278	(c) If sufficient funds are not available to the board to
279	279	meet its obligations under this section, the board may transfer
280	280	funds among institutions, branches, and entities of the University
281	281	of North Texas System to ensure the most equitable and efficient
282	282	allocation of available resources for each institution, branch, or
283	283	entity to carry out its duties and purposes.
284	284	(d) The expanded capacity at system institutions
285	285	attributable to the authorization provided for projects under
286	286	Subsection (a) supports the provision of dual credit or career and
287	287	technology education programs in furtherance of the goals of
288	288	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
289	289	Session, 2013.
290	290	Sec. 55.1786. TEXAS WOMAN'S UNIVERSITY. (a) In addition to
291	291	the other authority granted by this subchapter, the board of
292	292	regents of Texas Woman's University may acquire, purchase,
293	293	construct, improve, renovate, enlarge, or equip property and
294	294	facilities, including roads and related infrastructure, for a
295	295	science and technology learning center, to be financed through the
296	296	issuance of bonds in accordance with this subchapter, not to exceed
297	297	the aggregate principal amount of $51,347,200.
298	298	(b) The board may pledge irrevocably to the payment of bonds
299	299	authorized by this section all or any part of the revenue funds of
300	300	Texas Woman's University, including student tuition charges. The
301	301	amount of a pledge made under this subsection may not be reduced or
302	302	abrogated while the bonds for which the pledge is made, or bonds
303	303	issued to refund those bonds, are outstanding.
304	304	(c) The expanded capacity at the university attributable to
305	305	the authorization provided under Subsection (a) supports the
306	306	provision of dual credit or career and technology education
307	307	programs in furtherance of the goals of Chapter 211 (H.B. 5), Acts
308	308	of the 83rd Legislature, Regular Session, 2013.
309	309	Sec. 55.1787. MIDWESTERN STATE UNIVERSITY; ADDITIONAL
310	310	BONDS. (a) In addition to the other authority granted by this
311	311	subchapter, the board of regents of Midwestern State University may
312	312	acquire, purchase, construct, improve, renovate, enlarge, or equip
313	313	property and facilities, including roads and related
314	314	infrastructure, for the Gunn College of Health Sciences and Human
315	315	Services, to be financed through the issuance of bonds in
316	316	accordance with this subchapter, not to exceed the aggregate
317	317	principal amount of $61,000,000.
318	318	(b) The board may pledge irrevocably to the payment of bonds
319	319	authorized by this section all or any part of the revenue funds of
320	320	Midwestern State University, including student tuition charges.
321	321	The amount of a pledge made under this subsection may not be reduced
322	322	or abrogated while the bonds for which the pledge is made, or bonds
323	323	issued to refund those bonds, are outstanding.
324	324	(c) The expanded capacity at the university attributable to
325	325	the authorization provided under Subsection (a) supports the
326	326	provision of dual credit or career and technology education
327	327	programs in furtherance of the goals of Chapter 211 (H.B. 5), Acts
328	328	of the 83rd Legislature, Regular Session, 2013.
329	329	Sec. 55.1788. STEPHEN F. AUSTIN STATE UNIVERSITY. (a) In
330	330	addition to the other authority granted by this subchapter, the
331	331	board of regents of Stephen F. Austin State University may acquire,
332	332	purchase, construct, improve, renovate, enlarge, or equip property
333	333	and facilities, including roads and related infrastructure, for a
334	334	science, technology, engineering, and mathematics research
335	335	building at Stephen F. Austin State University, to be financed
336	336	through the issuance of bonds in accordance with this subchapter,
337	337	not to exceed the aggregate principal amount of $58,000,000.
338	338	(b) The board may pledge irrevocably to the payment of bonds
339	339	authorized by this section all or any part of the revenue funds of
340	340	Stephen F. Austin State University, including student tuition
341	341	charges. The amount of a pledge made under this subsection may not
342	342	be reduced or abrogated while the bonds for which the pledge is
343	343	made, or bonds issued to refund those bonds, are outstanding.
344	344	(c) The expanded capacity at the university attributable to
345	345	the authorization provided under Subsection (a) supports the
346	346	provision of dual credit or career and technology education
347	347	programs in furtherance of the goals of Chapter 211 (H.B. 5), Acts
348	348	of the 83rd Legislature, Regular Session, 2013.
349	349	Sec. 55.1789. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
350	350	BONDS. (a) In addition to the other authority granted by this
351	351	subchapter, the board of regents of the Texas Tech University
352	352	System may acquire, purchase, construct, improve, renovate,
353	353	enlarge, or equip property and facilities, including roads and
354	354	related infrastructure, for projects to be financed through the
355	355	issuance of bonds in accordance with this subchapter and in
356	356	accordance with a systemwide revenue financing program adopted by
357	357	the board for the following institutions, not to exceed the
358	358	following aggregate principal amounts for the projects specified,
359	359	as follows:
360	360	(1) Texas Tech University Health Sciences Center:
361	361	(A) $83,700,000 for renovation and expansion of
362	362	Lubbock education, research, and technology facilities;
363	363	(B) $19,800,000 for construction of the Permian
364	364	Basin academic facility; and
365	365	(C) $9,750,000 for construction of the Amarillo
366	366	Panhandle Clinical/Hospital Simulation;
367	367	(2) Texas Tech University Health Sciences Center at El
368	368	Paso, $94,400,000 for construction of the El Paso Medical Science
369	369	Building II;
370	370	(3) Texas Tech University, $97,700,000 for
371	371	construction of an experimental sciences building; and
372	372	(4) Angelo State University, $26,700,000 for
373	373	construction of a College of Health and Human Services building.
374	374	(b) The board may pledge irrevocably to the payment of bonds
375	375	authorized by this section all or any part of the revenue funds of
376	376	an institution, branch, or entity of the Texas Tech University
377	377	System, including student tuition charges. The amount of a pledge
378	378	made under this subsection may not be reduced or abrogated while the
379	379	bonds for which the pledge is made, or bonds issued to refund those
380	380	bonds, are outstanding.
381	381	(c) If sufficient funds are not available to the board to
382	382	meet its obligations under this section, the board may transfer
383	383	funds among institutions, branches, and entities of the Texas Tech
384	384	University System to ensure the most equitable and efficient
385	385	allocation of available resources for each institution, branch, or
386	386	entity to carry out its duties and purposes.
387	387	(d) The expanded capacity at system institutions
388	388	attributable to the authorization provided for projects under
389	389	Subsection (a) supports the provision of dual credit or career and
390	390	technology education programs in furtherance of the goals of
391	391	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
392	392	Session, 2013.
393	393	Sec. 55.17891. TEXAS SOUTHERN UNIVERSITY; ADDITIONAL
394	394	BONDS. (a) In addition to the other authority granted by this
395	395	subchapter, the board of regents of Texas Southern University may
396	396	acquire, purchase, construct, improve, renovate, enlarge, or equip
397	397	property and facilities, including roads and related
398	398	infrastructure, for the Robert J. Terry Library at Texas Southern
399	399	University, to be financed through the issuance of bonds in
400	400	accordance with this subchapter, not to exceed the aggregate
401	401	principal amount of $70,247,859.
402	402	(b) The board may pledge irrevocably to the payment of bonds
403	403	authorized by this section all or any part of the revenue funds of
404	404	Texas Southern University, including student tuition charges. The
405	405	amount of a pledge made under this subsection may not be reduced or
406	406	abrogated while the bonds for which the pledge is made, or bonds
407	407	issued to refund those bonds, are outstanding.
408	408	(c) The expanded capacity at the university attributable to
409	409	the authorization provided under Subsection (a) supports the
410	410	provision of dual credit or career and technology education
411	411	programs in furtherance of the goals of Chapter 211 (H.B. 5), Acts
412	412	of the 83rd Legislature, Regular Session, 2013.
413	413	Sec. 55.17892. TEXAS STATE TECHNICAL COLLEGE SYSTEM. (a) In
414	414	addition to the other authority granted by this subchapter, the
415	415	board of regents of the Texas State Technical College System may
416	416	acquire, purchase, construct, improve, renovate, enlarge, or equip
417	417	property and facilities, including roads and related
418	418	infrastructure, for projects to be financed through the issuance of
419	419	bonds in accordance with this subchapter for the following
420	420	institutions, not to exceed the following aggregate principal
421	421	amounts for the projects specified, as follows:
422	422	(1) Texas State Technical College--West Texas,
423	423	$12,000,000 for construction of an industrial technology center in
424	424	Abilene, Texas;
425	425	(2) Texas State Technical College--Harlingen,
426	426	$3,750,000 for Phase II of the Engineering Technology Center
427	427	renovation;
428	428	(3) Texas State Technical College--Marshall,
429	429	$31,350,440 for construction of a North Texas extension center; and
430	430	(4) Texas State Technical College--Waco, $14,950,000
431	431	for construction of the Fort Bend Industrial Technology Center.
432	432	(b) The board may pledge irrevocably to the payment of those
433	433	bonds all or any part of the revenue funds of an institution,
434	434	branch, or entity of the Texas State Technical College System,
435	435	including student tuition charges. The amount of a pledge made
436	436	under this subsection may not be reduced or abrogated while the
437	437	bonds for which the pledge is made, or bonds issued to refund those
438	438	bonds, are outstanding.
439	439	(c) If sufficient funds are not available to the board to
440	440	meet its obligations under this section, the board may transfer
441	441	funds among institutions, branches, and entities of the Texas State
442	442	Technical College System to ensure the most equitable and efficient
443	443	allocation of available resources for each institution, branch, or
444	444	entity to carry out its duties and purposes.
445	445	(d) The expanded capacity at system institutions
446	446	attributable to the authorization provided for projects under
447	447	Subsection (a) supports the provision of dual credit or career and
448	448	technology education programs in furtherance of the goals of
449	449	Chapter 211 (H.B. 5), Acts of the 83rd Legislature, Regular
450	450	Session, 2013.
451	451	SECTION 2. This Act does not affect any authority or
452	452	restriction regarding the activities that a public institution of
453	453	higher education may conduct in connection with a facility financed
454	454	by bonds authorized by this Act.
455	455	SECTION 3. This Act takes effect September 1, 2015.