Texas The Texas Constitution

§ 7.18 — FUNDING TO SUPPORT TEXAS A&M UNIVERSITY SYSTEM AND UNIVERSITY OF TEXAS SYSTEM; AVAILABLE UNIVERSITY FUND

CN § 7.18

Statute text

(a)The Board of Regents of The Texas A&M University System may issue bonds and notes not to exceed a total amount of 10 percent of the cost value of the investments and other assets of the permanent university fund (exclusive of real estate) at the time of the issuance thereof, and may pledge all or any part of its one-third interest in the available university fund to secure the payment of the principal and interest of those bonds and notes, for the purpose of acquiring land either with or without permanent improvements, constructing and equipping buildings or other permanent improvements, major repair and rehabilitation of buildings and other permanent improvements, acquiring capital equipment and library books and library materials, and refunding bonds or notes issued under this Section or prior law, at or for The Texas A&M University System administration and the following component institutions of the system:

(1)Texas A&M University, including its medical college which the legislature may authorize as a separate medical institution;

(2)Prairie View A&M University, including its nursing school in Houston;

(3)Tarleton State University;

(4)Texas A&M University at Galveston;

(5)Texas Forest Service;

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