| 1 | 1 | | 87R6240 MM-D |
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| 2 | 2 | | By: Seliger S.B. No. 758 |
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| 3 | 3 | | |
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| 4 | 4 | | |
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| 5 | 5 | | A BILL TO BE ENTITLED |
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| 6 | 6 | | AN ACT |
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| 7 | 7 | | relating to authorizing the issuance of revenue bonds to fund |
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| 8 | 8 | | capital projects at public institutions of higher education. |
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| 9 | 9 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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| 10 | 10 | | SECTION 1. Subchapter B, Chapter 55, Education Code, is |
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| 11 | 11 | | amended by adding Section 55.1791 to read as follows: |
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| 12 | 12 | | Sec. 55.1791. SPECIFIC UNIVERSITY SYSTEMS AND |
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| 13 | 13 | | INSTITUTIONS; ADDITIONAL BONDS. (a) In addition to the other |
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| 14 | 14 | | authority granted by this subchapter, each of the following boards |
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| 15 | 15 | | of regents may acquire, purchase, construct, improve, renovate, |
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| 16 | 16 | | enlarge, or equip facilities, including roads and related |
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| 17 | 17 | | infrastructure, for one or more projects chosen by the board for |
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| 18 | 18 | | institutions or entities under the board's management and control: |
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| 19 | 19 | | (1) the board of regents of The Texas A&M University |
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| 20 | 20 | | System; |
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| 21 | 21 | | (2) the board of regents of The University of Texas |
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| 22 | 22 | | System; |
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| 23 | 23 | | (3) the board of regents of the University of Houston |
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| 24 | 24 | | System; |
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| 25 | 25 | | (4) the board of regents of the Texas State University |
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| 26 | 26 | | System; |
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| 27 | 27 | | (5) the board of regents of the University of North |
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| 28 | 28 | | Texas System; |
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| 29 | 29 | | (6) the board of regents of Texas Woman's University; |
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| 30 | 30 | | (7) the board of regents of Midwestern State |
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| 31 | 31 | | University; |
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| 32 | 32 | | (8) the board of regents of Stephen F. Austin State |
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| 33 | 33 | | University; |
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| 34 | 34 | | (9) the board of regents of the Texas Tech University |
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| 35 | 35 | | System; and |
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| 36 | 36 | | (10) the board of regents of Texas Southern |
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| 37 | 37 | | University. |
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| 38 | 38 | | (b) Each board may finance projects under Subsection (a) |
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| 39 | 39 | | through the issuance of bonds in accordance with this subchapter |
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| 40 | 40 | | and, if applicable, in accordance with a systemwide revenue |
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| 41 | 41 | | financing program adopted by the board, in an aggregate principal |
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| 42 | 42 | | amount not to exceed $50 million. |
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| 43 | 43 | | (c) Each board may pledge irrevocably to the payment of |
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| 44 | 44 | | bonds authorized by this section all or any part of the revenue |
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| 45 | 45 | | funds of the university system or institution, as applicable, |
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| 46 | 46 | | including student tuition charges. The amount of a pledge made |
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| 47 | 47 | | under this subsection may not be reduced or abrogated while the |
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| 48 | 48 | | bonds for which the pledge is made, or bonds issued to refund those |
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| 49 | 49 | | bonds, are outstanding. |
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| 50 | 50 | | SECTION 2. This Act does not affect any authority or |
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| 51 | 51 | | restriction regarding the activities that a public institution of |
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| 52 | 52 | | higher education may conduct in connection with a facility financed |
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| 53 | 53 | | by bonds authorized by this Act. |
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| 54 | 54 | | SECTION 3. This Act takes effect September 1, 2021. |
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