By: Blanco S.B. No. 846
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the insurance of revenue bonds for certain
capital projects at Texas Tech University Health Sciences Center at
El Paso.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.17999 to read as follows:
Sec. 55.17999. TEXAS TECH UNIVERSITY HEALTH SCIENCES CENTER
AT EL PASO; ADDITIONAL BONDS. (a) In addition to the other
authority granted under this subchapter, the board of regents of
the Texas Tech University System may acquire, purchase, construct,
improve, renovate, enlarge, or equip property and facilities,
including roads and related infrastructure, for Texas Tech
University Health Sciences Center at El Paso for construction and
equipment of an oral and medical comprehensive health care center
to be financed by the issuance of bonds in accordance with a
systemwide revenue financing program and secured as provided by
that program, in an aggregate principal amount not to exceed
$236,997,000.
(b) The board may pledge irrevocably to the payment of the
bonds authorized by this section all or any part of the revenue
funds of an institution, branch, or entity of the Texas Tech
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 Tech
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. 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 3. This Act takes effect September 1, 2023.