AI-assisted research summary: The UT System Board may finance and manage bond-funded projects, pledge system revenues, transfer funds within the system, and use alternative projects with required notices and approvals.
Sec. 55.1792. 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 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 University of Texas System, $56,153,542 for renovation of the Microelectronics Research Center at the J. J. Pickle Research Campus; (2) The University of Texas at Arlington, $52,409,972 for renovation of the Life Science Building; (3) The University of Texas at Austin, $56,153,542 for renovation of the Physics, Math, and Astronomy Building; (4) The University of Texas at Dallas, $52,409,972 for construction of a student success center; (5) The University of Texas at El Paso, $52,409,972 for construction of an advanced teaching and learning complex; (6) The University of Texas of the Permian Basin, $44,922,833 for renovation of the Mesa Building and campus transformation; (7) The University of Texas Rio Grande Valley, $44,922,833 for construction of a health affairs building; (8) The University of Texas at San Antonio, $52,409,972 for construction of an Innovation, Entrepreneurship, and Careers building; (9) The University of Texas at Tyler, $44,922,833 for construction of a sciences building; (10) The University of Texas Health Science Center at Houston, $69,897,111 for construction of a public health education and research building; (11) The University of Texas Health Science Center at San Antonio, $59,897,111 for construction of the Glenn Biggs Institute for Alzheimer's & Neurodegenerative Diseases Building; (12) The University of Texas Health Science Center at Tyler: (A) $48 million for construction of a health professions education center; and (B) $10 million for construction of a health professions education center located in Longview, Texas; (13) The University of Texas M. D. Anderson Cancer Center, $69,897,111 for construction of a life sciences research, innovation, and discovery initiative facility; (14) The University of Texas Medical Branch at Galveston, $59,897,111 for infrastructure and research space upgrades for research buildings; and (15) UT Southwestern Medical Center, $59,897,111 for construction of the north campus Phase VI Brain Institute shell space. (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. (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.