Bill Text: TX HB2237 | 2015-2016 | 84th Legislature | Introduced

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Bill Title: Relating to authorizing the issuance of revenue bonds for capital projects at The University of Texas at Arlington.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Introduced - Dead) 2015-03-13 - Referred to Higher Education [HB2237 Detail]

Download: Texas-2015-HB2237-Introduced.html

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84R10931 AAF-D
By: Turner of Tarrant H.B. No. 2237

A BILL TO BE ENTITLED
AN ACT
relating to authorizing the issuance of revenue bonds for capital
projects at The University of Texas at Arlington.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Subchapter B, Chapter 55, Education Code, is
amended by adding Section 55.17827 to read as follows:
Sec. 55.17827. THE UNIVERSITY OF TEXAS SYSTEM; 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 Arlington for the
following projects to be financed by the issuance of bonds in
accordance with a systemwide revenue financing program and secured
as provided by that program, in aggregate principal amounts not to
exceed:
(1) $190 million for a science and engineering
innovation research building; and
(2) $99 million for a college of nursing and allied
health professions academic and research building.
(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 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, 2015.