Texas Education Code

§ 55.02 — SYSTEMWIDE REVENUE FINANCING PROGRAM

ED § 55.02Title 3. HIGHER EDUCATION · Part A. HIGHER EDUCATION IN GENERAL · Ch. 55. FINANCING PERMANENT IMPROVEMENTS · Art. A. GENERAL PROVISIONS

Statute text

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(a)The governing board of a university system may establish a systemwide revenue financing program to provide funds to acquire, purchase, construct, improve, renovate, enlarge, or equip property, buildings, structures, facilities, roads, or related infrastructure at an institution, branch, or entity of the university system.

(b)The governing board may issue bonds or notes in accordance with this chapter for any purpose authorized by law as part of the systemwide revenue financing program.

(c)The governing board may pledge to the payment of any bonds or notes issued as part of the systemwide revenue financing program all or any part of the revenue funds of an institution, branch, or entity of the university system.

(d)In this section, "university system" has the meaning assigned by Section 61.003 of this code.

Legislative history

Added by Acts 1993, 73rd Leg., ch. 803, Sec. 2, eff. Sept. 1, 1993.