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  H.B. No. 2805
 
 
 
 
AN ACT
  relating to the administration, powers, duties, operation, and
  financing of the East Williamson County Multi-Institution Teaching
  Center.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Section 130.092, Education Code, is amended by
  adding Subsections (f), (g), (h), (i), (j), (k), and (l) to read as
  follows:
         (f)  A member institution of the center, a political
  subdivision, an entity created by a political subdivision, or a
  nonprofit corporation may individually or jointly, under the terms
  of an agreement under Subsection (d), finance or refinance the
  acquisition, purchase, construction, improvement, renovation,
  enlargement, or equipping of physical facilities described by
  Subsection (d) through the issuance of bonds, notes, or other
  obligations. The financing of facilities under this subsection may
  be made through a long-term agreement with another member
  institution, political subdivision, or other entity described by
  this subsection, or through a guarantee of any bond, note, or other
  obligation.  Any bond, note, or other obligation issued or a
  long-term agreement or guarantee made under this subsection may not
  exceed a term of 40 years.
         (g)  Any bond, note, or other obligation issued or long-term
  agreement or guarantee made under Subsection (f) may be pledged as
  security for and used towards the payment of any bond, note, or
  other obligation issued for the benefit of the center. A bond,
  note, or other obligation issued or long-term agreement or
  guarantee made under Subsection (f) is not subject to annual
  appropriation.
         (h)  The financing of facilities under this section promotes
  the public purpose of supporting higher education and further
  promotes the public purpose of developing and diversifying the
  economy of this state and eliminating unemployment and
  underemployment in this state under the authority granted by
  Section 52-a, Article III, Texas Constitution.
         (i)  A member institution of the center, political
  subdivision, entity created by a political subdivision, or
  nonprofit corporation may pledge irrevocably to the payment of
  bonds, notes, or other obligations issued or a long-term agreement
  or guarantee made under Subsection (f), and to the extent permitted
  by law, all or any part of the available revenues, taxes, or any
  combination of revenues and taxes of the member institution,
  political subdivision, entity, or nonprofit corporation. The
  amount of a pledge made under this subsection may not be reduced or
  abrogated while any bonds, notes, or obligations for which the
  pledge is made, or bonds, notes, or other obligations issued to
  refund those bonds, notes, or obligations, are outstanding.
         (j)  An agreement providing for bonds, notes, or other
  obligations, or a long-term agreement or guarantee, under
  Subsection (f) may provide for a member institution, political
  subdivision, entity created by a political subdivision, or
  nonprofit corporation to have an ownership or other interest in the
  facilities to be financed by the bonds, notes, or obligations, or
  long-term agreements or guarantees, or to participate in the
  operation of the facility.
         (k)  A member institution of the center, political
  subdivision, entity created by a political subdivision, or
  nonprofit corporation may use an entity created under Chapter 53 or
  53A to accomplish the purposes of this section.
         (l)  This section is wholly sufficient authority for the
  execution of agreements, the pledge of revenues, taxes, or any
  combination of revenues and taxes, and the performance of other
  acts and procedures authorized by this section without reference to
  any other provision of law or any restriction or limitation
  contained in those provisions, except as specifically provided by
  this section. To the extent of any conflict or inconsistency
  between this section and any other law, this section shall prevail
  and control. A member institution of the center, political
  subdivision, entity created by a political subdivision, or
  nonprofit corporation may use any law not in conflict with this
  section to the extent convenient or necessary to carry out any power
  or authority, expressed or implied, granted by this section.
         SECTION 2.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2009.
 
 
  ______________________________ ______________________________
     President of the Senate Speaker of the House     
 
 
         I certify that H.B. No. 2805 was passed by the House on May 5,
  2009, by the following vote:  Yeas 144, Nays 0, 1 present, not
  voting.
 
  ______________________________
  Chief Clerk of the House   
 
 
         I certify that H.B. No. 2805 was passed by the Senate on May
  25, 2009, by the following vote:  Yeas 31, Nays 0.
 
  ______________________________
  Secretary of the Senate    
  APPROVED:  _____________________
                     Date          
   
            _____________________
                   Governor