(a) In addition to the other authority granted by this subchapter and subject to the
other provisions of this section, the board of regents of The University of Texas
System may acquire, purchase, construct, improve, renovate, enlarge, or equip property,
buildings, structures, facilities, roads, or related infrastructure for The University
of Texas Medical Branch at Galveston for any purpose reasonably necessary to assist
the institution to recover from any damage or other impact caused by Hurricane Ike,
to be financed by the issuance of bonds in accordance with this subchapter, including
bonds issued in accordance with a systemwide revenue financing program and secured
as provided by that program, in an aggregate principal amount not to exceed $150 million.
(b) The board may pledge irrevocably to the payment of the 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,
(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
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