Texas Education Code - Section 55.1723. The University Of Houston System
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§ 55.1723. THE UNIVERSITY OF HOUSTON SYSTEM. (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, buildings, structures, facilities, roads, or related
infrastructure for the following institutions to be financed by 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 the
following amounts:
(1) the University of Houston, $12 million;
(2) the University of Houston--Downtown, $7.5
million; and
(3) the University of Houston--Victoria, $10 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 Houston 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 Houston 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) 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.
Added by Acts 1997, 75th Leg., ch. 748, § 2, eff. Sept. 1, 1997.
Section: 55.1715 55.1716 55.1717 55.1718 55.172 55.1721 55.1722 55.1723 55.1724 55.1725 55.1726 55.1727 55.1728 55.173 55.1731
Last modified: August 10, 2007
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