Texas Education Code - Section 55.1754. Texas State University System; Additional Bonds
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§ 55.1754. TEXAS STATE UNIVERSITY SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the Texas State University
System may acquire, purchase, construct, improve, renovate,
enlarge, or equip facilities, including roads and related
infrastructure, for projects 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 for the
following institutions not to exceed the following aggregate
principal amounts for the projects specified as follows:
(1) Lamar University, $4,500,000 for renovations and
additions to the Lucas Engineering Building;
(2) Lamar State College--Orange, $1,837,280 for
Hibernia Bank Building acquisition and renovation;
(3) Lamar State College--Port Arthur, $1,849,500 for a
computer/learning center;
(4) Texas State University--San Marcos:
(A) $42,700,000 for an undergraduate academic
center; and
(B) $36 million for facilities for the Round Rock
Higher Education Center in Williamson County (phase II); and
(5) Sam Houston State University, $10 million for the
construction of a center for the performing arts (phase I).
(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 Texas State 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 to
meet its obligations under this section, the board may transfer
funds among institutions, branches, and entities of the Texas State
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.
Added by Acts 2006, 79th Leg., 3rd C.S., ch. 9, § 1, eff. May 26,
2006.
Section: 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 55.17592
Last modified: August 10, 2007
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