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Voters in the Austin, Texas, metropolitan area supported a tax increase proposal on ballots Tuesday that will provide revenue to support a new medical school at the University of Texas at Austin, a longtime ambition for the flagship university that it has struggled to support financially.

The new tax is the final piece of the funding puzzle administrators said they needed secured before they moved ahead on the school. University administrators said Tuesday that they would appoint a committee to choose a dean, select a location for the school, and finalize partnerships. They said they hope to have a medical school and teaching hospital in place for a first class of 50 students by 2015.