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Texas Education Code - Section 55.1739. Texas Tech University System; Additional Bonds

Legal Research Home > Texas Lawyer > Education Code > Texas Education Code - Section 55.1739. Texas Tech University System; Additional Bonds

§ 55.1739. TEXAS TECH UNIVERSITY SYSTEM;  ADDITIONAL 
BONDS.  (a) In addition to the other authority granted by this 
subchapter, the board of regents of the Texas Tech University 
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 for projects specified as 
follows:
		(1)  Texas Tech University, $23,647,000 to construct an 
experimental science research facility;  and
		(2)  Texas Tech University Health Sciences Center, 
$66,882,525 to construct a clinical and research facility in the 
city of Lubbock and to construct facilities to support the center's 
educational programs in the city of El Paso.
	(b)  The board may pledge irrevocably to the payment of those 
bonds all or any part of the revenue funds of Texas Tech University 
or the Texas Tech University Health Sciences Center, 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 Texas Tech University and the Texas Tech University 
Health Sciences Center to ensure the most equitable and efficient 
allocation of available resources for Texas Tech University and the 
Texas Tech University Health Sciences Center 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.

Added by Acts 2001, 77th Leg., ch. 1432, § 3, eff. Sept. 1, 2001.          

Last modified: August 10, 2007