Texas Education Code - Section 55.1753. University Of Houston System; Additional Bonds
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§ 55.1753. 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 acquire, purchase, construct, improve, renovate,
enlarge, or equip facilities, including roads and related
infrastructure, for the following institutions, to be financed
through the issuance of bonds in accordance with this subchapter
and in accordance with a systemwide revenue financing program
adopted by the board, in aggregate principal amounts not to exceed
the following:
(1) the University of Houston, $57,600,000 for
renovation of science laboratories;
(2) the University of Houston--Clear Lake,
$10,604,808 for Arbor Building renovations and additions;
(3) the University of Houston--Downtown, $31,626,000
for a classroom building at Shea Street; and
(4) the University of Houston--Victoria:
(A) $22,900,000 for an academic building at the
University of Houston System Center at Sugar Land;
(B) $6,719,400 for regional economic
development; and
(C) $1,800,000 for allied health facilities.
(b) The board may pledge irrevocably to the payment of bonds
authorized by this section 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.
Added by Acts 2006, 79th Leg., 3rd C.S., ch. 9, § 1, eff. May 26,
2006.
Section: 55.1743 55.1744 55.1749 55.17491 55.1751 55.1752 55.17521 55.1753 55.1754 55.1755 55.1756 55.1757 55.1758 55.1759 55.17591
Last modified: August 10, 2007
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