Tex.
Educ. Code Section 55.17893
Midwestern State University
(a)
In addition to the other authority granted by this subchapter, the board of regents of the Texas Tech University System may issue bonds in accordance with this subchapter and in accordance with a systemwide revenue financing program adopted by the board in the aggregate principal amounts not to exceed the amounts previously authorized for Midwestern State University by Sections 55.1727, 55.1737, 55.1757, and 55.1787, as those sections existed immediately before this section took effect, less any portion of those amounts for which bonds were issued under those sections for the university before the date this section took effect. Subject to Subsection (d), bonds issued under this section for an amount previously authorized by Section 55.1727, 55.1737, 55.1757, or 55.1787 may be used only at Midwestern State University for the purposes for which the bonds were authorized to be issued for the university under Section 55.1727, 55.1737, 55.1757, or 55.1787, as applicable.(b)
The board of regents of the Texas Tech University System 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 Tech 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 of regents of the Texas Tech University System 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.(d)
Any portion of the proceeds of bonds authorized by this section for one or more specified projects that is not required for the specified projects may be used to renovate existing structures and facilities at the university.(e)
The board of regents of the Texas Tech University System may issue refunding bonds under Chapter 1207 (Refunding Bonds), Government Code, to refund all or any part of the outstanding bonds, notes, or other general or special obligations issued by or for the benefit of Midwestern State University, including obligations previously issued by the Texas Public Finance Authority. For purposes of Chapter 1207 (Refunding Bonds), Government Code, and in connection with the issuance of any refunding bonds under that chapter, the board of regents of the Texas Tech University System shall be considered the issuer of the outstanding bonds, notes, or obligations of Midwestern State University which are being refunded.(1)
The Texas A&M University System, $43,425,406 for construction of a STEM education center at the RELLIS campus;(2)
Prairie View A&M University, $44,922,833 for construction of a teaching and academic student support services facility;(3)
Tarleton State University:(A)
$65 million for construction of a College of Health Sciences and Human Services building on the Stephenville campus; and(B)
$25 million for expansion of the Fort Worth campus;(4)
Texas A&M University, $56,153,542 for construction of a clinical veterinary teaching and research complex;(5)
Texas A&M University--Commerce, $44,922,833 for an Agricultural Multipurpose Education and Training Center;(6)
Texas A&M University--Corpus Christi, $44,922,833 for construction of an arts and media building;(7)
Texas A&M University at Galveston, $33,692,125 for construction of an engineering classroom and research building;(8)
Texas A&M University--Kingsville, $44,922,833 for renovations to address deferred maintenance for campus buildings;(9)
Texas A&M University--Central Texas, $44,922,833 for construction of a central utility plant and infrastructure upgrades;(10)
West Texas A&M University, $44,922,833 for infrastructure upgrades to address health and safety issues and the renovation of an education building;(11)
Texas A&M University--San Antonio, $44,922,833 for construction of a public health and education building;(12)
Texas A&M International University, $44,922,833 for construction of a health science education and research center;(13)
Texas A&M University--Texarkana, $44,922,833 for construction of a business, engineering, and technology building; and(14)
The Texas A&M University System Health Science Center:(A)
$69,897,111 for construction of the Texas Medical Center Building 3 in Houston, Texas; and(B)
$29,948,556 for construction of a nursing education and research center in McAllen, Texas.(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.(d)
In lieu of financing a project described by Subsection (a) for an institution of higher education, entity, or university system, the board may finance in the manner prescribed by that subsection an alternative project for deferred maintenance, infrastructure, or construction at the same institution, entity, or system in an amount not to exceed the total of the amount authorized for the project and any unspent amount from projects authorized for the institution, entity, or system under this chapter. The board shall notify the Texas Higher Education Coordinating Board of an alternative project financed as provided by this subsection.(e)
For financing of an alternative project as provided by Subsection (d) in an amount that exceeds $25 million, the board must receive prior written approval from the governor and Legislative Budget Board. A request for approval of financing of an alternative project is considered approved unless the governor or the Legislative Budget Board issues a written disapproval not later than the 30th business day after the date of the receipt of the request.
Source:
Section 55.17893 — Midwestern State University, https://statutes.capitol.texas.gov/Docs/ED/htm/ED.55.htm#55.17893 (accessed May 4, 2024).
