Sec. 55.17892. TEXAS STATE TECHNICAL COLLEGE SYSTEM. (a) In addition to the other authority granted by this subchapter, the board of regents of the Texas State Technical College 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 for the following institutions, not to exceed the following aggregate principal amounts for the projects specified, as follows:

(1) Texas State Technical College--West Texas, $12 million for construction of an industrial technology center;

(2) Texas State Technical College--Harlingen, $3,750,000 for Phase II of the Engineering Technology Center renovation;

(3) Texas State Technical College--Waco, $14,950,000 for construction of the Fort Bend Campus Building #2; and

(4) Texas State Technical College--Marshall, $11,040,000 for purchase and renovation of the North Texas Technology Center.

(b) The board may pledge irrevocably to the payment of those bonds all or any part of the revenue funds of an institution, branch, or entity of the Texas State Technical College 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 State Technical College 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 2015, 84th Leg., R.S., Ch. 917 (H.B. 100), Sec. 1, eff. September 1, 2015.