Dude.
From May of this year:
https://www.tallahassee.com/story/sports/college/fsu/football/2018/05/17/fsu-still-exploring-all-options-football-facility-upgrades/618468002/
"Florida State is in the middle of the planning process to catch its football program up in the facilities arms race."
Also, Stanford tore its 84-year old stadium to the ground and built a $90M stadium in its place in 2006. And I bet they are already planning renovations to that.
When the UT System issues bonds, it's not placing any real risk on tax payers. Its actually managing its enormous coffers responsibly. When the University of Texas builds luxury seating at the behest of wealthy individual donors, it's not putting the average citizen out, it's providing a service in return for revenue it would not otherwise realize. You're not basing your view of college football in reality, you're attacking an athletic director and his department for making changes that don't fit your worldview of how college athletics should be run since the beginning of time. Good luck tilting at that windmill, comrade. I'm done.