(a) The board of regents of the Texas Woman’s University System may acquire, purchase, construct, improve, renovate, enlarge, or equip property, buildings, structures, facilities, roads, or related infrastructure for a component institution of the system to be financed by the issuance of bonds in accordance with this subchapter in the aggregate principal amount of $5 million.
(b) The board may pledge irrevocably to the payment of those bonds all or any part of the revenue funds of the Texas Woman’s University System, including student tuition charges required or authorized by law to be imposed on students enrolled at a component institution of the system. 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.