82nd Texas Legislature, Regular Session, House Bill 2911, Chapter 1304 Page: 1 of 7
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H.B. No. 2911
1 AN ACT
2 relating to guaranteed student loans and alternative education
3 loans.
4 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
5 SECTION 1. The heading to Section 53B.47, Education Code,
6 is amended to read as follows:
7 Sec. 53B.47. GUARANTEED STUDENT LOANS AND ALTERNATIVE
8 [MTeMRNAPSE] EDUCATION LOANS; BONDS FOR THE PURCHASE OF EDUCATION
9 LOAN NOTES.
10 SECTION 2. Sections 53B.47(a), (b), (c), (d), (f), and (h),
11 Education Code, are amended to read as follows:
12 (a) An authority may, upon approval of the city or cities
13 which created the same, issue revenue bonds or otherwise borrow
14 money to obtain funds to purchase or to make guaranteed student
15 loans or alternative education loans. Revenue bonds issued for
16 such purpose shall be issued in accordance with and with the effect
17 provided in this chapter. Such bonds shall be payable from and
18 secured by a pledge of revenues derived from or by reason of the
19 ownership of guaranteed student loans or alternative education
20 loans and investment income after deduction of such expenses of
21 operating the loan program as may be specified by the bond
22 resolution or trust indenture.
23 (b) An authority may cause money to be expended to make or
24 purchase for its account guaranteed student loans that areChapter 1304
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Texas. Legislature. House of Representatives. 82nd Texas Legislature, Regular Session, House Bill 2911, Chapter 1304, legislative document, June 17, 2011; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth311401/m1/1/: accessed April 23, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.