87(R) HB 449 - Introduced version - Bill Text

	87R2351 MM-D
	By:  Turner of Tarrant	H.B.  No.  449

	A BILL TO BE ENTITLED
	AN ACT
	relating to authorizing the issuance of revenue bonds to fund
	capital projects at certain public institutions of higher
	education.
	BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
	SECTION  1.    Subchapter B, Chapter 55, Education Code, is
	amended by adding Sections 55.1791, 55.1792, 55.1793, 55.1794,
	55.1795, 55.1796, 55.1797, 55.1798, 55.1799, 55.17991, and
	55.17992 to read as follows:
	Sec.  55.1791.    THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL
	BONDS. (a) In addition to the other authority granted by this
	subchapter, the board of regents of The Texas A&M University System
	may acquire, purchase, construct, improve, renovate, enlarge, or
	equip property and 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)    Prairie View A&M University, $60 million for
	construction of an engineering classroom and research building;
	(2)    Tarleton State University, $72 million for
	construction of an agricultural and natural resources building;
	(3)    Texas A&M University:
	(A)    $65 million for construction of an
	instructional laboratory and innovative learning facility; and
	(B)    $30 million for construction of a research
	facility and nursing instruction center at the Higher Education
	Center in McAllen, Texas;
	(4)    Texas A&M University--Central Texas, $25 million
	for construction of a central utility plant;
	(5)    Texas A&M University--Commerce, $49.5 million for
	construction of an agriculture multipurpose education and training
	center;
	(6)    Texas A&M University--Corpus Christi, $58.5
	million for construction of an arts and media building;
	(7)    Texas A&M University at Galveston, $40 million for
	construction of an immersive scholarship and learning environment
	building, a central plant, and campus infrastructure;
	(8)    Texas A&M International University, $60 million
	for construction of a student classroom and events center;
	(9)    Texas A&M University--Kingsville, $60 million for
	construction of a STEM and health professions workforce development
	complex;
	(10)    Texas A&M University--San Antonio, $53 million
	for construction of an academic and library building;
	(11)    Texas A&M University--Texarkana, $46 million for
	construction of a business, engineering, and technology building;
	(12)    West Texas A&M University:
	(A)    $28.5 million for capital improvements to
	address life and fire safety issues; and
	(B)    $20 million for renovation of the education
	building; and
	(13)    The Texas A&M University System Health Science
	Center, $100 million for a joint project with The University of
	Texas M.  D.  Anderson Cancer Center and The University of Texas
	Health Science Center at Houston for construction of a biomedical
	research facility.
	(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 A&M 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 A&M
	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.
	Sec.  55.1792.    THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL