Texas Education Code - Section 55.1735. University Of North Texas System; Additional Bonds
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§ 55.1735. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of North Texas
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 North Texas, $52,933,750 to
construct a science building and to develop the campus and
facilities of the University of North Texas System Center at Dallas
at the location to become the University of North Texas at Dallas;
and
(2) the University of North Texas Health Science
Center at Fort Worth, $27.5 million to construct a biotechnology
center and school of public health building.
(b) The board may pledge irrevocably to the payment of those
bonds all or any part of the revenue funds of the University of
North Texas or the University of North Texas Health Science Center
at Fort Worth, 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 between the University of North Texas and the University of
North Texas Health Science Center at Fort Worth to ensure the most
equitable and efficient allocation of available resources for the
University of North Texas and the University of North Texas Health
Science Center at Fort Worth to carry out their 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.
(e) The board may not issue bonds under Subsection (a)(1)
for the University of North Texas at Dallas before September 1,
2003.
Added by Acts 2001, 77th Leg., ch. 1432, § 3, eff. Sept. 1, 2001.
Amended by Acts 2003, 78th Leg., ch. 940, § 1, eff. June 20,
2003; Acts 2003, 78th Leg., ch. 1319, § 1, eff. June 18, 2003.
Section: 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 55.17392 55.174
Last modified: August 10, 2007
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