Texas Education Code - Section 55.1749. Texas Tech University System; Additional Revenue Bonds
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§ 55.1749. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
REVENUE BONDS. (a) In addition to the other authority granted by
this subchapter, the board of regents of the Texas Tech 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 Tech University Health Sciences Center for an academic
building to support the center's educational programs in the city
of El Paso, 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 $45
million.
(b) The board may pledge irrevocably to the payment of the
bonds authorized by Subsection (a) 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 that is not required for the academic building described by
Subsection (a) may be used by the Texas Tech University System to
renovate existing structures and facilities of the Texas Tech
University Health Sciences Center.
Added by Acts 2003, 78th Leg., 3rd C.S., ch. 10, § 10.01, eff.
Oct. 20, 2003.
Section: 55.17392 55.174 55.1741 55.17411 55.1742 55.1743 55.1744 55.1749 55.17491 55.1751 55.1752 55.17521 55.1753 55.1754 55.1755
Last modified: August 10, 2007
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