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Relating to the creation and organization of the University of South Texas System; providing for the appointment, powers, and duties of the board of regents of the system in regard to the operation of the named member universities; authorizing the establishment of the University of South Texas Extension Center at Brownsville, to e a part of the system; providing for appointment of a chancellor of the system and prescribing his duties and responsibilities; providing procedures for the selection of the chief administrative officer of each member university; providing the level of work or type of programs offered by each member university; prescribing the relationship of this Act to existing laws governing the various member institutions; appropriating certain funds heretofore appropriated to component units or institutions to the system; making certain provisions as to use of appropriations to such institutions for the fiscal year 1973-74; retaining the Texas A&I University central administrative structure headed by a chancellor with change of name to the University of South Texas System with broadened responsibility to include other institutions in the system, and other related powers.