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Texas Education Code - Section 55.17411. The Texas A&M University System; Additional Revenue Bonds

Legal Research Home > Texas Lawyer > Education Code > Texas Education Code - Section 55.17411. The Texas A&M University System; Additional Revenue Bonds

§ 55.17411. THE TEXAS A&M UNIVERSITY SYSTEM;  ADDITIONAL 
REVENUE BONDS.  (a) In addition to the other authority granted by 
this subchapter, the board of regents of The Texas A&M University 
System may acquire, purchase, construct, improve, renovate, 
enlarge, or equip property, buildings, structures, or other 
facilities, including roads and related infrastructure, for The 
Texas A&M University System Health Science Center to develop a 
biosciences research center in the City of Temple, to be financed by 
the issuance of bonds in accordance with this subchapter, including 
bonds issued in accordance with a systemwide revenue financing 
program and secured as provided by that program, in an aggregate 
principal amount not to exceed $15 million.
	(b)  The board of regents may pledge irrevocably to the 
payment of the bonds authorized by this section all or any part of 
the revenue funds of an institution, branch, or entity of The Texas 
A&M University 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 of 
regents to meet its obligations under this section, the board may 
transfer funds among institutions, branches, and entities of The 
Texas A&M 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. 
	(d)  If the Temple Health and Bioscience Economic 
Development District is established, the district is responsible 
for the payment of debt service on the bonds authorized by this 
section for any facilities financed by the bonds that are located in 
the district and used to support the purposes or programs of the 
district.
	(e)  The legislature may not appropriate general revenue to 
pay, or to reimburse the board of regents or Texas A&M University 
for the payment of, debt service on bonds authorized by this 
section.

Added by Acts 2003, 78th Leg., ch. 1188, § 3, eff. June 20, 2003.  
Renumbered from V.T.C.A., Education Code § 55.1741 by Acts 2005, 
79th Leg., ch. 728, § 23.001(19), eff. Sept. 1, 2005.

Last modified: August 10, 2007