June 11, 1999

Texans to Vote on Plan to Increase Spending From Endowment

By JULIANNE BASINGER

The Texas Legislature has approved a proposed constitutional amendment that could substantially increase the funds that the University of Texas and the Texas A&M University systems receive from their main endowment.

If voters approve the measure this fall, it would lift restrictions on the state's Permanent University Fund and turn the $6.5-billion endowment into a "total return" fund that could spend up

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