Tex.
Educ. Code Section 55.172
The University of Texas--pan American
(a)
The board of regents of The University of Texas System may construct and equip academic buildings, structures, and facilities for The University of Texas--Pan American, following approval for such construction by the Texas Higher Education Coordinating Board and for these purposes may issue revenue bonds pursuant to this subchapter. The board may pledge irrevocably to the payment of these revenue bonds all or any part of the aggregate amount of student tuition charges required or authorized by law to be imposed on students enrolled at The University of Texas--Pan American; and the amount of any pledge so made shall never be reduced or abrogated while the bonds are outstanding. However, the tuition charges shall not be pledged pursuant to the authority granted by this subsection except to the payment of bonds issued in an aggregate principal amount not to exceed $10 million for the purpose of providing funds to construct and equip academic buildings, structures, and facilities for The University of Texas--Pan American.(b)
It is provided, however, that no bonds shall be issued hereunder and no tuition shall be pledged thereto unless and until the specific terms and provisions of said bonds and pledge have been first approved by the Texas Higher Education Coordinating Board in accordance with rules and regulations regarding that subject adopted, published, and heard in accordance with Section 61.027 (Rules of Procedure; Hearings; Notice; Minutes) of this code.(1)
Prairie View A&M University, $15 million;(2)
Tarleton State University, $15 million;(3)
Texas A&M University, $12.5 million;(4)
Texas A&M University Health Science Center, $6 million;(5)
Texas A&M University--Commerce, $4.2 million;(6)
Texas A&M University--Corpus Christi, $25 million;(7)
Texas A&M International University, $39.5 million;(8)
Texas A&M University--Kingsville, $15 million;(9)
Texas A&M University--Texarkana, $4 million; and(10)
West Texas A&M University, $9 million.(b)
The board may pledge irrevocably to the payment of those bonds 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 required or authorized by law to be imposed on students enrolled at an institution, branch, or entity of The Texas A&M University System. 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 constitutional and statutory duties and purposes.(d)
Of the proceeds of bonds authorized by this section for Texas A&M International University, $4.5 million may be used only to purchase library books, journals, and other library materials, equipment, and furniture for the university’s library.
Source:
Section 55.172 — The University of Texas--pan American, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.55.htm#55.172 (accessed May 4, 2024).
