89R4801 AND-F
By: Blanco S.B. No. 1017
A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for certain
capital projects at The University of Texas 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 55.17992 to read as follows:
Sec. 55.17992. THE UNIVERSITY OF TEXAS AT EL PASO;
ADDITIONAL BONDS. (a) In addition to the other authority granted
under this subchapter, the board of regents of The University of
Texas System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for The University of Texas at El Paso for
construction of a student success building, 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 $100 million.
(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 University of
Texas 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 Texas 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, 2025.