Texas Education Code - Section 55.1759. Texas Tech University System; Additional Bonds
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§ 55.1759. TEXAS TECH UNIVERSITY SYSTEM; ADDITIONAL
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 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 not to
exceed the following aggregate principal amounts for the projects
specified as follows:
(1) Texas Tech University Health Sciences Center:
(A) $8,010,000 for the School of Pharmacy
expansion in Amarillo;
(B) $18 million for the Amarillo research
facility; and
(C) $6,300,000 for the El Paso Medical Science
Building renovation; and
(2) Texas Tech University:
(A) $25 million for the renovation of a classroom
building;
(B) $25 million for the Rawls College of Business
Administration building; and
(C) $7,500,000 for a law school trial
advocacy/education center.
(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 Tech 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 Tech
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: 55.17521 55.1753 55.1754 55.1755 55.1756 55.1757 55.1758 55.1759 55.17591 55.17592 55.18 55.19 55.20 55.21 55.22
Last modified: August 10, 2007
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