2005 Texas Government Code CHAPTER 1434. COUNTY AND MUNICIPAL HIGHER EDUCATION IMPROVEMENT BONDS

GOVERNMENT CODE

CHAPTER 1434. COUNTY AND MUNICIPAL HIGHER EDUCATION IMPROVEMENT 
BONDS

SUBCHAPTER A. GENERAL PROVISIONS


	§ 1434.001. APPLICABILITY OF CHAPTER.  This chapter 
applies only to:      
		(1)  a home-rule municipality with a population of 
25,000 or more that has a general academic teaching institution 
located within its boundaries;  or
		(2)  a county within which a municipality described by 
Subdivision (1) is located.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           


	§ 1434.002. DEFINITIONS.  In this chapter:                                  
		(1)  "Institution of higher education" means:                                 
			(A)  an institution of higher education as defined 
by Section 61.003, Education Code;  or
			(B)  a private, nonprofit institution of higher 
education that is accredited by the recognized accrediting agency 
and is located and authorized to operate in this state, other than a 
private institution of higher education operated exclusively for 
sectarian purposes.
		(2)  "Public security" has the meaning assigned by 
Section 1201.002.        
		(3)  "Recognized accrediting agency" has the meaning 
assigned by Section 61.003, Education Code.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           


	§ 1434.003. LEGISLATIVE FINDING.  The legislature finds 
that the assistance provided by counties and municipalities in 
promoting and providing higher education opportunities for 
residents of this state will encourage the development and 
diversification of the economy of this state and the elimination of 
unemployment and underemployment in this state.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           

SUBCHAPTER B. ISSUANCE OF BONDS


	§ 1434.051. FINANCING OF PERMANENT IMPROVEMENTS BY COUNTY 
OR MUNICIPALITY.  (a) A county or a municipality may:
		(1)  issue public securities, including certificates 
of obligation, to acquire, construct, or improve land, buildings, 
or other permanent improvements for use by an institution of higher 
education located within a county to which this chapter applies;  
and
		(2)  impose ad valorem taxes to pay the principal of and 
interest on those securities and to provide a sinking fund.
	(b)  The county or municipality shall:                                         
		(1)  issue any public securities and impose the taxes 
in accordance with the applicable provisions of Subtitles A, C, D, 
and E;  and
		(2)  if the securities are certificates of obligation, 
issue any certificates and impose the taxes in accordance with 
Subchapter C, Chapter 271, Local Government Code.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           


	§ 1434.052. JOINT FINANCING BY COUNTY AND 
MUNICIPALITY.  (a) A county and a municipality may jointly issue 
public securities and impose ad valorem taxes for a purpose 
described by Section 1434.051.
	(b)  The commissioners court of the county and the governing 
body of the municipality shall determine the appropriate proportion 
of the ad valorem taxes to be imposed by the county and by the 
municipality.
	(c)  A public security proposition that is submitted must 
distinctly specify the proportion of ad valorem taxes to be imposed 
by the county and by the municipality.
	(d)  The county and municipality shall issue the public 
securities and impose the taxes in accordance with the applicable 
provisions of Subtitles A, C, D, and E.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           


	§ 1434.053. LIMIT ON TAXES.  The only limits on the amount 
of taxes that may be imposed to pay the principal of and interest on 
public securities, including certificates of obligation, issued 
under this chapter are those provided by the Texas Constitution.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           


	§ 1434.054. PROJECT APPROVAL BY TEXAS HIGHER EDUCATION 
COORDINATING BOARD.  (a) Before public securities are issued under 
this chapter, the Texas Higher Education Coordinating Board or its 
successor agency must review the project to be acquired, 
constructed, or improved.  The board or its successor agency shall 
conduct hearings to review the project in accordance with Chapter 
61, Education Code.
	(b)  Public securities may not be issued under this chapter 
unless the board or its successor agency approves the acquisition, 
construction, or improvement of the project to be financed through 
the issuance of the public securities.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           

SUBCHAPTER C. DONATION OR USE OF PERMANENT IMPROVEMENTS


	§ 1434.101. DONATION OF PERMANENT IMPROVEMENTS.  (a) A 
county or municipality may donate to a general academic teaching 
institution a permanent improvement acquired, constructed, or 
improved by the county, by the municipality, or by the county and 
the municipality jointly.
	(b)  The donation is not subject to any law of this state 
governing the disposition of property owned by a county or 
municipality.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.           


	§ 1434.102. USE OF PERMANENT IMPROVEMENTS.  (a) A 
municipality may allow a state four-year institution of higher 
education or a university system to use land or buildings acquired 
by the municipality.
	(b)  This section does not apply to an institution of higher 
education that is supported in any way by revenue from a local tax 
base.
	(c)  A use under this section is a municipal purpose and a 
public use for the municipality.

Added by Acts 1999, 76th Leg., ch. 227, § 1, eff. Sept. 1, 1999.