The board of regents may finance and carry out listed Texas A&M System projects with bonds, and it must notify the Texas Higher Education Coordinating Board when using an alternative project; projects over $25 million need prior written approval from the governor and Legislative Budget Board.
Sec. 55.1791. THE TEXAS A&M UNIVERSITY SYSTEM; ADDITIONAL BONDS. (a) In addition to the other authority granted by this subchapter, the board of regents of The Texas A&M University System may acquire, purchase, construct, improve, renovate, enlarge, or equip property and facilities, including roads and related infrastructure, for projects to be financed through the issuance of bonds in accordance with this subchapter and in accordance with a systemwide revenue financing program adopted by the board for the following institutions, not to exceed the following aggregate principal amounts for the projects specified, as follows: (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. Added by Acts 2021, 87th Leg., 3rd C.S., Ch. 9 (S.B. 52), Sec. 2, eff. January 18, 2022.