Tex. Educ. Code Section 53.44
Operation of Facilities; Rates Charged; Reserve Funds

(a)

The facilities may be operated by the authority without the intervention of private profit for the use and benefit of the public, or may be leased to an institution of higher education, or may be operated by the institution under a contract with the authority, the lease or contract to be in effect until any revenue bonds issued in connection with it have been finally retired.

(b)

The board shall charge rates for the use of the facilities, or for their lease or operation, that are fully sufficient to pay all expenses in connection with the ownership, operation, and upkeep of the facilities, to pay the interest on the bonds as it becomes due, to create a sinking fund to pay the bonds as they become due, and to create and maintain a bond reserve fund and other funds and reserves that may be provided in the bond resolution or trust indenture. The bond resolution or trust indenture may prescribe systems, methods, routines, and procedures under which the facilities shall be operated.

Acts 1971, 62nd Leg., p. 3072, ch. 1024, art. 1, Sec. 1, eff. Sept. 1, 1971.

Reenacted and amended by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 1, eff. September 1, 2005.

Source: Section 53.44 — Operation of Facilities; Rates Charged; Reserve Funds, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.53.htm#53.44 (accessed Apr. 29, 2024).

53.01
Short Title 53.02
Definitions 53.11
Creation of Authority 53.12
Territory 53.13
Corporate Powers 53.14
Board of Directors 53.15
Organization of Board 53.31
No Taxing Power 53.32
No Power of Eminent Domain 53.33
Limited Power to Acquire, Own, and Operate Educational and Housing Facilities 53.34
Revenue Bonds 53.35
Issuance of Bonds 53.36
Bond Resolution 53.37
Junior Lien Bonds 53.38
Reserves for Operating and Other Expenses 53.39
Refunding Bonds 53.40
Approval of Bonds 53.41
Authorized Investments 53.42
Investment of Funds 53.43
Depositories 53.44
Operation of Facilities 53.45
Transactions with Other Agencies and Persons 53.46
Authority Exempt from Taxation 53.48
Bonds for Authorized Charter Schools 53.131
Authority’s Earnings 53.331
Refinancing Facilities 53.351
Bonds for Open-enrollment Charter School Facilities 53.352
Limitation on Liability of Corporation

Up to date

Accessed:
Apr. 29, 2024

§ 53.44’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._educ._code_section_53.44

Original Source: Section 53.44 — Operation of Facilities; Rates Charged; Reserve Funds, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.53.htm#53.44 (last accessed Apr. 29, 2024).

Tex. Educ. Code Section 53.44 Operation of Facilities; Rates Charged; Reserve Funds

(a)

(b)

Tex. Educ. Code Section 53.44
Operation of Facilities; Rates Charged; Reserve Funds