Texas Education Code - Section 55.1755. University Of North Texas System; Additional Bonds
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§ 55.1755. UNIVERSITY OF NORTH TEXAS SYSTEM; ADDITIONAL
BONDS. (a) In addition to the other authority granted by this
subchapter, the board of regents of the University of North Texas
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 and facilities not to exceed the following
aggregate principal amounts for the projects specified as follows:
(1) the University of North Texas, $50 million for the
construction of a College of Business Administration building;
(2) the University of North Texas Health Science
Center at Fort Worth, $41,972,400 for campus expansion and
construction of a public health education building; and
(3) the University of North Texas Dallas Campus, $25
million for a general academic building.
(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 North Texas
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 North Texas 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) Notwithstanding Subsection (a), the University of North
Texas System may not issue bonds under this section for facilities
at the University of North Texas Dallas Campus until the Texas
Higher Education Coordinating Board certifies that enrollment at
the University of North Texas Dallas Campus has reached an
enrollment equivalent of 1,500 full-time students for one semester.
If that enrollment is not reached by January 1, 2010, the system's
authority to issue bonds for the University of North Texas Dallas
Campus under this section expires on that date.
Added by Acts 2006, 79th Leg., 3rd C.S., ch. 9, § 1, eff. May 26,
2006.
Section: 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 55.18
Last modified: August 10, 2007
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