Bill Text: TX SB26 | 2013 | 83rd Legislature 1st Special Session | Introduced


Bill Title: Relating to authorizing the issuance of revenue bonds for a multipurpose education building at Lamar State College--Orange.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2013-06-05 - Filed [SB26 Detail]

Download: Texas-2013-SB26-Introduced.html
  83S10156 JRJ-D
 
  By: Nichols S.B. No. 26
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to authorizing the issuance of revenue bonds for a
  multipurpose education building at Lamar State College--Orange.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Subchapter B, Chapter 55, Education Code, is
  amended by adding Section 55.1784 to read as follows:
         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 a multipurpose education building at
  Lamar State College--Orange, 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, in an
  aggregate principal amount not to exceed $15 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
  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.
         SECTION 2.  (a)  If S.B. No. 215, Acts of the 83rd
  Legislature, Regular Session, 2013, does not become law, 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 55.1784, 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.
         (b)  If S.B. No. 215, Acts of the 83rd Legislature, Regular
  Session, 2013, becomes law, this section has no effect.
         SECTION 3.  (a)  If S.B. No. 215, Acts of the 83rd
  Legislature, Regular Session, 2013, does not become law, 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 55.1784, 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.
         (b)  If S.B. No. 215, Acts of the 83rd Legislature, Regular
  Session, 2013, becomes law, this section has no effect.
         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 October 1, 2013.
feedback