Bill Text: TX HB3052 | 2011-2012 | 82nd Legislature | Introduced


Bill Title: Relating to authorizing the issuance of revenue bonds for capital projects at Texas A&M University - Kingsville.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2011-03-17 - Referred to Higher Education [HB3052 Detail]

Download: Texas-2011-HB3052-Introduced.html
 
 
  By: Lozano H.B. No. 3052
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for capital
  projects at Texas A&M University - Kingsville.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.17811 to read as follows:
         Sec. 55.17811.  TEXAS A&M UNIVERSITY-KINGSVILLE.  (a)  In
  addition to the other authority granted under this subchapter, the
  board of regents of The Texas A&M University System may acquire,
  purchase, construct, improve, renovate, enlarge, or equip
  property, buildings, structures, facilities, roads or related
  infrastructure for a Music Building Expansion and Renovation at
  Texas A&M University - Kingsville, to be financed by the issuance of
  bonds in accordance with a system-wide revenue financing program
  and secured as provided by that program, in an aggregate principal
  amount not to exceed $40 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 Texas A&M
  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 A&M
  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.  Section 61.0572(e), 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,
  55.17721, or 55.17811, 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.
         SECTION 3.  Section 61.058(b), 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, 55.17721, or
  55.17811, 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.
         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 immediately if it receives
  a vote of two-thirds of all the members of the elected to each
  house, as provided by Section 39, Article III, Texas Constitution.  
  If this Act does not receive the vote necessary for immediate
  effect, this Act takes effect September 1, 2011.
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