1984:

In 1984, a constitutional amendment to Section 18 enlarged the overall bonding capacity of the U. T. and Texas A&M Systems to 30% of the PUF’s cost value and made all existing U. T. and Texas A&M component institutions eligible to benefit from PUF bond proceeds. Also in 1984, voters ratified a proposal to create a constitutionally-dedicated Higher Education Assistance Fund (HEAF) similar to the PUF for 26 senior institutions of higher education which do not benefit from the PUF.

1988:

Constitutional amendment adopted the "prudent person" investment standard for the U. T. Board of Regents and eliminated all other investment restrictions for the PUF.

1991:

U.S. and coalition forces defeat the Iraqi army and liberate Kuwait, thus preserving the balance of power in, and ensuring the free flow of oil from the Persian Gulf.


Courtesy of Gulf War Veteran Resource Pages

1999:

Pursuant to a statewide election held on November 2, 1999, voters approved Proposition 17 amending the Texas Constitution. The amendments are effective November 29, 1999 and allow for a) distributions to the AUF from the "total return" on PUF Investments, including income return as well as capital gains (realized and unrealized) and b) the payment of PUF expenses from PUF assets.

The amendment also directs the UT Board to establish a distribution policy that attempts to balance the need to provide a stable, inflation adjusted distribution stream with the need to preserve the real value of the PUF investments over the long term. Payment of distributions in any given fiscal year is subject to certain conditions as provided for in the constitutional amendment.