Texas Education Code - Section 55.1714. The University Of Texas System
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§ 55.1714. THE UNIVERSITY OF TEXAS SYSTEM. (a) In
addition to the authority granted by Sections 55.13, 55.14, 55.17,
55.172, and 55.19 of this code, the board of regents of The
University of Texas System may acquire, purchase, construct,
improve, renovate, enlarge, or equip property, buildings,
structures, facilities, roads, or related infrastructure for the
following institutions to be financed by the issuance of bonds in
accordance with this subchapter, including bonds issued in
accordance with its systemwide revenue financing program and
secured as provided by that program, in aggregate principal amounts
not to exceed the following amounts:
(1) The University of Texas at Brownsville, $23.5
million;
(2) The University of Texas at El Paso, $23 million;
(3) The University of Texas--Pan American, $26
million;
(4) The University of Texas at San Antonio, $63.5
million;
(5) The University of Texas Health Science Center at
San Antonio, $25 million; and
(6) The University of Texas at Austin, $2 million.
(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 University of Texas System, including
student tuition charges required or authorized by law to be imposed
on students enrolled at an institution, branch, or entity of The
University of Texas System. 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) Of the proceeds of bonds issued under this section for
The University of Texas at San Antonio, $20 million may be used only
to acquire, purchase, construct, improve, renovate, enlarge, or
equip a downtown campus for that university. Proceeds of bonds
issued under this section for The University of Texas at Austin may
be used only to acquire, purchase, construct, renovate, enlarge, or
equip the McDonald Observatory.
(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 constitutional and statutory duties and
purposes.
Added by Acts 1993, 73rd Leg., ch. 803, § 4, eff. Sept. 1, 1993.
Section: 55.15 55.16 55.17 55.171 55.1711 55.1712 55.1713 55.1714 55.1715 55.1716 55.1717 55.1718 55.172 55.1721 55.1722
Last modified: August 10, 2007
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