Texas Education Code - Section 55.1724. Texas State University System
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§ 55.1724. TEXAS STATE UNIVERSITY SYSTEM. (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, 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 aggregate principal amounts not to exceed the
following:
(1) Angelo State University, $20 million;
(2) Lamar University--Beaumont, $8 million;
(3) Lamar Institute of Technology, $2 million;
(4) Lamar State College--Orange, $3.5 million;
(5) Lamar State College--Port Arthur, $2.75 million;
(6) Sam Houston State University, $7.5 million;
(7) Texas State University--San Marcos, $19.7
million; and
(8) Sul Ross State University, $17.5 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 Texas State University System, including
student tuition charges required or authorized by law to be imposed
on students enrolled at an institution, branch, or entity of the
Texas State University 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 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.
Added by Acts 1997, 75th Leg., ch. 748, § 2, eff. Sept. 1, 1997.
Amended by Acts 1999, 76th Leg., ch. 767, § 4, eff. June 18,
1999; Acts 2003, 78th Leg., ch. 386, § 5, eff. Sept. 1, 2003.
Section: 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 55.1732
Last modified: August 10, 2007
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