The UT System board may finance and carry out specified facility projects, pledge revenue funds for bond payment, and transfer funds if needed, but it cannot reduce or cancel a bond pledge while the bonds remain outstanding.
Sec. 55.1752. THE UNIVERSITY OF TEXAS SYSTEM; ADDITIONAL BONDS. (a) In addition to the other authority granted by this subchapter, the board of regents of The University of Texas System may acquire, purchase, construct, improve, renovate, enlarge, or equip 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 University of Texas at Arlington, $70,430,000 for an Engineering Research Building; (2) The University of Texas at Austin, $105 million for the renovation of the Experimental Science Building; (3) The University of Texas at Brownsville, $33,800,000 for a Science and Technology Learning Center; (4) The University of Texas at Dallas, $12 million for a vivarium and experimental space; (5) The University of Texas at El Paso, $76,500,000 for a physical sciences/engineering core facility; (6) The University of Texas--Pan American: (A) $6 million for the Starr County Upper Level Center; and (B) $39,796,000 for the fine arts academic and performance complex; (7) The University of Texas of the Permian Basin: (A) $54 million for a science and technology complex; and (B) $45 million for an arts convocation and classroom facility at the CEED; (8) The University of Texas at San Antonio, $74,250,000 for an engineering building (phase II); (9) The University of Texas Southwestern Medical Center, $42 million for the north campus (phase 5); (10) The University of Texas Medical Branch at Galveston, $57 million for the Galveston National Laboratory; (11) The University of Texas Health Science Center at Houston, $60 million for a replacement building for The University of Texas Dental Branch at Houston; (12) The University of Texas Health Science Center at San Antonio, $60 million for the South Texas Research Facility; (13) The University of Texas Health Science Center at Tyler, $21,120,000 for an academic health center; (14) The University of Texas M. D. Anderson Cancer Center, $40 million for a Center for Targeted Therapy research building; and (15) The University of Texas at Tyler: (A) $6,300,000 for the expansion of the Palestine campus; and (B) $43,200,000 for the completion, renovation, and expansion of engineering and sciences facilities. (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 University of Texas 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 University of Texas 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. Added by Acts 2006, 79th Leg., 3rd C.S., Ch. 9 (H.B. 153), Sec. 1, eff. May 31, 2006. Amended by: Acts 2013, 83rd Leg., R.S., Ch. 179 (H.B. 1844), Sec. 5, eff. September 1, 2013.