Bill Text: TX SB846 | 2023-2024 | 88th Legislature | Introduced
Bill Title: Relating to authorizing the insurance of revenue bonds for certain capital projects at Texas Tech University Health Sciences Center at El Paso.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2023-03-01 - Referred to s/c on Higher Education by Pres [SB846 Detail]
Download: Texas-2023-SB846-Introduced.html
| By: Blanco | S.B. No. 846 | |
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| relating to authorizing the insurance of revenue bonds for certain | ||
| capital projects at Texas Tech University Health Sciences Center 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 55.17999 to read as follows: | ||
| Sec. 55.17999. TEXAS TECH UNIVERSITY HEALTH SCIENCES CENTER | ||
| AT EL PASO; ADDITIONAL BONDS. (a) In addition to the other | ||
| authority granted under 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 Texas Tech | ||
| University Health Sciences Center at El Paso for construction and | ||
| equipment of an oral and medical comprehensive health care center | ||
| 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 | ||
| $236,997,000. | ||
| (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 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. | ||
| 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, 2023. | ||
