Bill Text: TX SB16 | 2013-2014 | 83rd Legislature | Engrossed

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Bill Title: Relating to authorizing the issuance of revenue bonds to fund capital projects at public institutions of higher education.

Spectrum: Bipartisan Bill

Status: (Engrossed - Dead) 2013-05-23 - Senate appoints conferees-reported [SB16 Detail]

Download: Texas-2013-SB16-Engrossed.html

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By: Zaffirini, et al. S.B. No. 16

A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds to fund
capital projects at public institutions of higher education.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Sections 55.1781, 55.1782, 55.1783, 55.1784,
55.1785, 55.1786, 55.1787, 55.1788, 55.1789, 55.17891, and
55.17892 to read as follows:
Sec. 55.1781. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of The Texas A&M University System
may acquire, purchase, construct, improve, renovate, enlarge, or
equip property and facilities, including roads and related
infrastructure, for projects to be financed through the issuance of
bonds in accordance with this subchapter and in accordance with a
systemwide revenue financing program adopted by the board for the
following institutions, not to exceed the following aggregate
principal amounts for the projects specified, as follows:
(1) Texas A&M University--Commerce, $45 million for a
library and technology center;
(2) Texas A&M University--Corpus Christi, $75 million
for a life sciences research building;
(3) Texas A&M University--Kingsville, $42 million for
music building expansion and renovation of Jones Auditorium;
(4) Texas A&M University--Texarkana, $46 million for
an academic and laboratory learning center;
(5) West Texas A&M University, $12 million for the
Amarillo Center;
(6) The Texas A&M University System Health Science
Center:
(A) $9 million for facilities in Round Rock,
Texas;
(B) $45 million for a research building in
Temple, Texas; and
(C) $80 million for an education center and
research building in Dallas, Texas; and
(7) Texas A&M International University:
(A) $52 million for library renovation,
additional instructional spaces, and a support services building;
and
(B) $11 million for an addition to the science
center.
(b) If the board of regents of The Texas A&M University
System provides funds from additional sources available to the
board, including the proceeds of bonds issued under Section 55.13,
but not including the proceeds of bonds issued under this section,
in an amount equal to one-half of the amount specified for each
project authorized below, the board may, in addition to the other
authority granted by this subchapter, acquire, purchase,
construct, improve, renovate, enlarge, or equip property and
facilities, including roads and related infrastructure, for
projects to be financed through the issuance of bonds in accordance
with this subchapter and in accordance with a systemwide revenue
financing program adopted by the board for the following
institutions, not to exceed the following aggregate principal
amounts for the projects specified, as follows:
(1) Prairie View A&M University, $5,333,333 for
critical deferred maintenance;
(2) Tarleton State University, $43,333,333 for the
Gates Agriculture and Business Building;
(3) Texas A&M University, $53,333,333 for a
biocontainment research facility;
(4) Texas A&M University at Galveston, $30,666,667 for
an academic building;
(5) Texas A&M University--Central Texas, $33,333,333
for a science, health science, and wellness building; and
(6) Texas A&M University--San Antonio:
(A) $46,666,667 for a science and technology
building; and
(B) $11 million for a central and physical plant
building.
(c) The board may pledge irrevocably to the payment of 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.
(d) 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.
(e) The board may not issue bonds under Subsection (a) until
the board makes the pledge of additional funds required to issue
bonds under Subsection (b).
Sec. 55.1782. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by 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 projects to be financed through the issuance of
bonds in accordance with this subchapter and in accordance with a
systemwide revenue financing program adopted by the board for the
following institutions, not to exceed the following aggregate
principal amounts for the projects specified, as follows:
(1) The University of Texas at Austin, $95 million for
an engineering education and research center;
(2) The University of Texas at Brownsville, $60
million for a new campus;
(3) The University of Texas--Pan American, $98 million
for Science Building II;
(4) The University of Texas Southwestern Medical
Center at Dallas, $60 million for north campus Phase VI vivarium and
research facilities;
(5) The University of Texas Health Science Center at
San Antonio, $6 million for a South Texas diabetes institute;
(6) The University of Texas M. D. Anderson Cancer
Center, $50 million for a personalized cancer care building; and
(7) The University of Texas Medical Branch at
Galveston, $40 million for a health education center.
(b) If the board of regents of The University of Texas
System provides funds from additional sources available to the
board, including the proceeds of bonds issued under Section 55.13,
but not including the proceeds of bonds issued under this section,
in an amount equal to the amount specified for each project
authorized below, the board may, in addition to the other authority
granted by this subchapter, acquire, purchase, construct, improve,
renovate, enlarge, or equip property and facilities, including
roads and related infrastructure, for projects to be financed
through the issuance of bonds in accordance with this subchapter
and in accordance with a systemwide revenue financing program
adopted by the board for the following institutions, not to exceed
the following aggregate principal amounts for the projects
specified, as follows:
(1) The University of Texas at Arlington, $32,150,000
for renovation of and addition to a life science building;
(2) The University of Texas at Dallas, $47,500,000 for
an engineering building;
(3) The University of Texas at El Paso, $40 million for
an interdisciplinary research facility;
(4) The University of Texas at San Antonio,
$46,375,000 for an experimental science instructional building;
(5) The University of Texas at Tyler, $24,250,000 for
a STEM and business complex and renovation of the business
building;
(6) The University of Texas Health Science Center at
Houston, $58,450,000 for the renovation and modernization of
educational and research facilities;
(7) The University of Texas Health Science Center at
San Antonio, $4 million for an enhanced performance laboratory for
the Barshop Institute for Longevity and Aging Studies;
(8) The University of Texas Health Science Center at
Tyler, $2,502,500 for the Riter Center Primary Care Training Center
renovation; and
(9) The University of Texas of the Permian Basin, $30
million for an engineering building.
(c) The board may pledge irrevocably to the payment of 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.
(d) 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.
(e) The board may not issue bonds under Subsection (a) until
the board makes the pledge of additional funds required to issue
bonds under Subsection (b).
Sec. 55.1783. UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of Houston
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) the University of Houston, $70 million for a
pharmacy and biomedical sciences building;
(2) the University of Houston--Clear Lake,
$75,600,000 for a science and academic support building;
(3) the University of Houston--Downtown, $41,429,000
for a science and technology building; and
(4) the University of Houston--Victoria, $70 million
for campus expansion.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the University of Houston
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 Houston 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.
Sec. 55.1784. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the Texas State University
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) Lamar University, $40 million for a science
building;
(2) Lamar State College--Orange, $21 million for a
multipurpose education building;
(3) Lamar State College--Port Arthur, $2,500,000 for
an addition to the allied health building;
(4) Lamar Institute of Technology, $12 million for
renovation and replacement of the technical arts buildings;
(5) Texas State University--San Marcos:
(A) $56 million for a joint project with The
Texas A&M University System Health Science Center for a medical
education and research building in Round Rock, Texas; and
(B) $83 million for an engineering and science
building; and
(6) Sam Houston State University, $9,800,000 for an
agriculture engineering technology building.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the Texas State 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 State
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.
Sec. 55.1785. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of North Texas
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip property and facilities, including roads and
related infrastructure, for projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) the University of North Texas System, $25 million
for college of law building renovations;
(2) the University of North Texas, $48 million for a
science and technology research facility;
(3) the University of North Texas at Dallas, $70
million for a library and student success center; and
(4) the University of North Texas Health Science
Center at Fort Worth, $66,600,000 for an interdisciplinary research
building.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
an institution, branch, or entity of the University of North 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 North 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.
Sec. 55.1786. TEXAS WOMAN'S UNIVERSITY. (a) In addition
to the other authority granted by this subchapter, the board of
regents of Texas Woman's University may acquire, purchase,
construct, improve, renovate, enlarge, or equip property and
facilities, including roads and related infrastructure, for a
science and technology learning center, to be financed through the
issuance of bonds in accordance with this subchapter, not to exceed
the aggregate principal amount of $37,996,928.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Texas Woman's University, 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.
Sec. 55.1787. MIDWESTERN STATE UNIVERSITY; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of Midwestern State University may
acquire, purchase, construct, improve, renovate, enlarge, or equip
property and facilities, including roads and related
infrastructure, for library, College of Education, and information
technology facilities at Midwestern State University, to be
financed through the issuance of bonds in accordance with this
subchapter, not to exceed the aggregate principal amount of
$29,990,000.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Midwestern State University, 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.
Sec. 55.1788. STEPHEN F. AUSTIN STATE UNIVERSITY. (a) In
addition to the other authority granted by this subchapter, the
board of regents of Stephen F. Austin State University may acquire,
purchase, construct, improve, renovate, enlarge, or equip property
and facilities, including roads and related infrastructure, for a
science, technology, engineering, and mathematics research
building at Stephen F. Austin State University, to be financed
through the issuance of bonds in accordance with this subchapter,
not to exceed the aggregate principal amount of $50 million.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Stephen F. Austin State University, 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.
Sec. 55.1789. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by 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 projects to be financed through the
issuance of bonds in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board for the following institutions, not to exceed the
following aggregate principal amounts for the projects specified,
as follows:
(1) Texas Tech University Health Sciences Center:
(A) $40,500,000 for Lubbock education, research,
and technology facilities;
(B) $75 million for the El Paso Medical Science
Building II; and
(C) $17,010,000 for the Permian Basin academic
facility;
(2) Texas Tech University, $78,975,000 for a research
building; and
(3) Angelo State University, $16,758,000 for a health
and human services building.
(b) The board may pledge irrevocably to the payment of 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.
Sec. 55.17891. TEXAS SOUTHERN UNIVERSITY; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of Texas Southern University may
acquire, purchase, construct, improve, renovate, enlarge, or equip
property and facilities, including roads and related
infrastructure, for the Robert J. Terry Library at Texas Southern
University, to be financed through the issuance of bonds in
accordance with this subchapter, not to exceed the aggregate
principal amount of $66,017,661.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section all or any part of the revenue funds of
Texas Southern University, 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.
Sec. 55.17892. TEXAS STATE TECHNICAL COLLEGE SYSTEM.
(a) In addition to the other authority granted by this subchapter,
the board of regents of the Texas State Technical College System may
acquire, purchase, construct, improve, renovate, enlarge, or equip
property and facilities, including roads and related
infrastructure, for projects to be financed through the issuance of
bonds in accordance with this subchapter for the following
institutions, not to exceed the following aggregate principal
amounts for the projects specified, as follows:
(1) Texas State Technical College--Harlingen, $3
million for Phase II of the Engineering Technology Center
renovation;
(2) Texas State Technical College--Marshall,
$1,500,000 for renovation of aviation technology facilities; and
(3) Texas State Technical College--Waco, $5 million
for water system infrastructure replacement.
(b) The board may pledge irrevocably to the payment of those
bonds all or any part of the revenue funds of an institution,
branch, or entity of the Texas State Technical College 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 State
Technical College 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. Subsection (e), Section 61.0572, 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,
[or] 55.17721, or 55.1781-55.17892, 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. Subsection (b), Section 61.058, 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, [or]
55.17721, or 55.1781-55.17892, 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 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, 2013.