The school was originally called the University of Lebanon, changing its name effective September 4, 1964 to reflect the location of its campus.
[4] Using $250,000 borrowed from Republic National Life of Dallas, he put a down payment on 680 acres (2.8 km2) of land in northwest Plano.
With $600,000 raised from a bond issue, he persuaded the government of Malaysia to donate to the school the nation's pavilion from the 1964 New York World's Fair, with the pagoda becoming the main building of the university.
[3] Despite warnings offered as far back as 1967, the school developed a heavy reliance on land speculation to meet its expenses.
The school ran short of funds in 1976, and despite ownership of 698 acres (2.82 km2) and twenty buildings, was forced to close in July 1976.