Texas Education Code - Section 55.1733. The University Of Houston System; Additional Bonds
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§ 55.1733. THE UNIVERSITY OF HOUSTON SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of Houston
System may issue in accordance with this subchapter and in
accordance with a systemwide revenue financing program adopted by
the board bonds for the following institutions not to exceed the
following aggregate principal amounts to finance projects
specified as follows:
(1) the University of Houston, $51 million to
construct science and engineering research and classroom
facilities;
(2) the University of Houston--Downtown, $18,232,500
to construct a classroom building;
(3) the University of Houston--Clear Lake,
$30,918,750 to construct a student services and classroom building;
and
(4) the University of Houston--Victoria, $2,805,000
to remodel the University West facility, acquire and renovate a
facility services building, and renovate and expand a facility for
the center for community initiatives.
(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. 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.
(d) Any portion of the proceeds of bonds authorized by this
section for one or more specified projects at an institution that is
not required for the specified projects may be used to renovate
existing structures and facilities at the institution.
Added by Acts 2001, 77th Leg., ch. 1432, § 3, eff. Sept. 1, 2001.
Section: 55.1725 55.1726 55.1727 55.1728 55.173 55.1731 55.1732 55.1733 55.1734 55.1735 55.1736 55.1737 55.1738 55.1739 55.17391
Last modified: August 10, 2007
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