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Severally all the acts of the Board of Regents of the University of Texas, the Board of Directors of the Agricultural and Mechanical College of Texas, the Board of Directors of Texas Technological College, the Board of Regents of the State Teachers Colleges, the Board of Regents of the Texas State College for Women, and the Board of Directors of the Texas College of Arts and Industries, heretofore had in the authorization, issuance, and delivery of bonds, notes or warrants, evidencing loans made to accomplish purposes authorized under the provisions of Chapter 5, Acts of the Second Called Session of the Forty-third Legislature, and amendments thereto, and all other laws of the State of Texas, relating to such bonds, notes, or warrants, including the construction, acquisition and equipment of dormitories, kitchens, and dining halls, hospitals, libraries, student activity buildings, gymnasia, athletic buildings and stadia, dormitories for help, laundries, and other buildings, are hereby in all things validated. Any such bonds, notes or warrants heretofore issued, or that may be issued hereafter, pursuant to any order or resolution of any such Board of Directors or Board of Regents heretofore adopted, are in all things fully validated, and such bonds, notes, or warrants, the pledge of the revenues by any such Board of Directors or such Board of Regents to secure and assure the payment of such obligations, and the provisions and covenants as to rates and charges supporting such pledges, are in all things validated, and such bonds, notes, or warrants are hereby declared to be the valid and binding special obligations of such respective Boards of Directors or Boards of Regents, secured by the revenues pledged and not otherwise. It is hereby made the duty of each such Board of Directors or Board of Regents to fix, maintain, and collect charges or rates, sufficient for a reasonable reserve and to pay the interest as it accrues and the principal as it matures of such bonds, notes, or warrants heretofore or hereafter authorized by such Board, as provided in the resolution authorizing such bonds, notes, or warrants.
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