reglab/statecodes huggingface dataset:
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.107. Mortgage as Additional Security

Sec. 60.107.  MORTGAGE AS ADDITIONAL SECURITY.  (a)  As additional security for the payment of any obligations issued under this subchapter, the commission may execute in favor of the holders of the obligations an indenture, mortgaging and encumbering the improvements, facilities, and properties acquired with the proceeds of the sale of the obligations.  The commission may provide in the indenture for a grant to any purchaser, at a foreclosure sale under the indenture, a franchise to operate the improvements, facilities, and properties for a term of not more than 50 years from the date of purchase, subject to all regulatory laws.
(b)  The indenture may contain the terms and provisions the commission considers proper and shall be enforceable in the manner provided by the laws of this state for the enforcement of other mortgages and encumbrances.
(c)  Under any sale ordered pursuant to the provisions of an indenture, the purchaser and his successors or assigns shall be vested with a permit and franchise to maintain and operate the improvements, facilities, and properties purchased at the sale and shall have the same powers and privileges as could previously have been exercised by the district in the operation of the improvements, facilities, and properties.  The purchaser or his successors and assigns may remove all or part of the improvements, facilities, and properties for diversion to other purposes.
(d)  Any laws of this state relating to the granting of franchises are not applicable to either the granting of any franchise or authorizing or executing of any mortgage or encumbrance entered into pursuant to the provisions of this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.108. Issuance of Obligations

Sec. 60.108.  ISSUANCE OF OBLIGATIONS.  (a)  The commission may provide that obligations issued under this subchapter are payable annually or semiannually and may issue the obligations in any denominations and may have them mature serially or at one time not more than 40 years from their date.
(b)  The obligations shall be signed by the chairman and secretary of the commission, and the interest coupons attached to the obligations may be executed with the facsimile signatures of these officers.  The obligations shall be valid and sufficient for all purposes even though the officers whose signatures are on the obligations or coupons cease to be officers before delivery to the purchaser.
(c)  Any obligations issued under this subchapter shall be in registered or coupon form, and if the obligations are in coupon form, they may be registered with relation to principal only or with relation to both principal and interest.
(d)  The commission may sell the obligations in the manner and at the time which it considers expedient and necessary to the interests of the district.
(e)  The commission may make principal and interest on the obligations payable at any place or places inside or outside the State of Texas and may make the obligations redeemable before maturity at the premium determined by the commission.
(f)  Each issue of obligations authorized under this subchapter shall constitute a separate series which shall be appropriately designated.  These obligations constitute negotiable instruments within the meaning of the negotiable instruments law.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.109. Sinking Fund

Sec. 60.109.  SINKING FUND.  (a)  A resolution or an order authorizing the issuance of obligations under this subchapter shall provide for the creation of a sinking fund which shall include sums fully sufficient to pay principal of and interest on the obligations.  Money deposited in the sinking fund shall be taken from revenue pledged for the payment of the obligations and shall be deposited in the fund as the revenue is collected.
(b)  The money in the sinking fund shall be applied solely to the payment of interest on the obligations for the payment of which the fund is created and for the retirement of the obligations at or before maturity in the manner provided by this subchapter.
(c)  The commission, at the time obligations are authorized under this subchapter, may provide that all money in the sinking fund which is in excess of the amount required for the payment of the principal of and interest on the outstanding obligations, for a period of time it may determine, shall be spent once each year pursuant to the commission's orders for the purchase of obligations, if any can be purchased at a price the commission finds reasonable, for the account of which the sinking fund has been accumulated.
(d)  If the obligations contain an option permitting retirement before maturity, the commission may provide that the excess sums shall be paid out as authorized by Subsection (b) of this section for the purchase of the obligations, but if the commission is unable to purchase sufficient obligations of the issue to absorb all the surplus, it shall call a sufficient amount of the obligations for redemption to absorb insofar as practicable the entire surplus remaining in the sinking fund.
(e)  The commission may provide that any excess in the sinking fund which cannot be applied to the purchase or redemption of obligations shall remain in the sinking fund for payment of principal and interest and for subsequent call for purchase or redemption.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.110. Revenue Set Aside for Sinking Fund

Sec. 60.110.  REVENUE SET ASIDE FOR SINKING FUND.  (a)  A resolution or an order authorizing the issuance of obligations under this subchapter shall provide that the revenue from which the obligations are to be paid shall, from month to month as it accrues and is received, be placed in a sinking fund and disbursed in the manner provided in Section 60.109 of this code.
(b)  In determining the amount of revenue to be set aside, the commission shall provide that the amount to be set aside and paid into the fund in any year shall not be less than a fixed sum which shall be at least sufficient to provide for the payment of the principal of and interest on all obligations which mature and become payable each year and shall include a surplus or margin of 10 percent in excess of that amount.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.111. Deposit of Proceeds of Obligations; Payment

Sec. 60.111.  DEPOSIT OF PROCEEDS OF OBLIGATIONS;  PAYMENT.  (a)  The proceeds of the sale of any obligations issued under this subchapter may be deposited in a bank or banks and paid out on terms and conditions agreed on by the purchaser at the sale and the commission.
(b)  The laws of this state relating to the deposit of district funds in the depository of the district shall not apply to the deposit of the proceeds of a sale governed by Subsection (a) of this section.
(c)  Any part of the proceeds of the sale of obligations issued under this subchapter which remains unspent after the project for which the obligations were authorized has been completed may be paid into the sinking fund for the payment of the obligations and may be used only for the payment of principal of the obligations or for the purpose of purchasing outstanding obligations in the manner provided by this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.112. Insuring Improvements to Protect Holders of Obligations

Sec. 60.112.  INSURING IMPROVEMENTS TO PROTECT HOLDERS OF OBLIGATIONS.  (a)  The commission may enter into agreements with purchasers of any obligations issued under this subchapter to insure improvements and facilities, the revenue of which is pledged to the payment of the obligations.
(b)  The commission may obtain from insurers of good standing:
(1)  insurance against loss or damage by fire, water, or flood;
(2)  insurance against loss or damage from any hazards customarily insured against by private companies operating similar properties;  and
(3)  insurance covering the use and occupancy of the property as is customarily carried by private companies.
(c)  The cost of the insurance shall be budgeted as maintenance and operation expense and shall be carried for the benefit of the holders of the obligations.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.113. Compelling Performance of Duties

Sec. 60.113.  COMPELLING PERFORMANCE OF DUTIES.  A holder of obligations issued under this subchapter or coupons originally attached to the obligations may by any legal proceeding enforce and compel performance of all duties required by this subchapter to be performed by the commission.  The duties which can be the basis of an action under this section shall include:
(1)  the establishment and collection of reasonable and sufficient fees or charges for the use of improvements and facilities of the district;
(2)  the segregation of the income and revenue from improvements and facilities;  and
(3)  the application of income and revenue pursuant to the provisions of this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.114. Obligations Exempt From Taxation

Sec. 60.114.  OBLIGATIONS EXEMPT FROM TAXATION.  Any obligations issued under this subchapter shall be exempt from taxation by the State of Texas, any municipal corporation, any county, and or any other political subdivision or taxing district of the state.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.115. Refunding Obligations

Sec. 60.115.  REFUNDING OBLIGATIONS.  (a)  A district issuing obligations under the provisions of this subchapter may authorize issuance of its refunding obligations on terms its commission considers advisable for the purpose of providing for the retirement of outstanding obligations which are either due or to become due.
(b)  The refunding obligations either may be exchanged for the same par amounts of outstanding obligations or may be sold and the proceeds of the sale exchanged for the same par amounts of outstanding obligations.
(c)  Refunding obligations authorized and issued under Subsection (a) of this section are subject to the provisions of this subchapter relating to the issuance of other obligations and shall be secured in all respects to the same extent and shall be payable from the same revenue as the obligations which they refund.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.116. Approval and Registration of Bonds

Sec. 60.116.  APPROVAL AND REGISTRATION OF BONDS.  (a)  Bonds issued under this subchapter shall be submitted to the Attorney General of Texas for his approval in the same manner and with the same effect as provided for the approval of tax bonds issued by counties of the state.
(b)  Bonds issued under this subchapter shall be registered by the Comptroller of Public Accounts of Texas as required for county tax bonds.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.117. Bonds as Investments

Sec. 60.117.  BONDS AS INVESTMENTS.  Bonds authorized and issued under this subchapter are legal and authorized investments for life insurance companies authorized to do business in Texas.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.118. Board of Trustees of Facility

Sec. 60.118.  BOARD OF TRUSTEES OF FACILITY.  (a)  A district which constructs, purchases, or otherwise acquires or plans to construct, purchase, or otherwise acquire any facility authorized in Section 60.101 of this code to be paid for in whole or in part by the issuance and sale of obligations payable from and secured by a pledge of revenue authorized in this subchapter may vest management and control of the facility during the time the obligations or refunding obligations are secured in whole or in part by the pledge of revenue, in a board of trustees named in the resolution or indenture.
(b)  The board of trustees shall consist of not less than five nor more than nine members, and shall be entitled to receive the compensation fixed by the resolution or indenture, which shall not be more than one percent of the gross receipts of the facility in any one year.
(c)  The commission shall specify in the resolution or indenture:
(1)  the terms of office of the members of the board of trustees;
(2)  the powers and duties of the board, including the power to fix fees and charges for the use of the facility;
(3)  the manner of exercising the powers and duties;
(4)  the manner of selecting the successors of the board of trustees;  and
(5)  all matters relating to board members' duties and the organizing of the board.
(d)  The board of trustees may adopt bylaws regulating the procedure of the board and fixing the duties of its officers, but the bylaws may not contain any provision in conflict with the covenants and provisions contained in the resolution authorizing the bonds or in the indenture.
(e)  In all matters relating to powers, duties, obligations, and procedure of the board of trustees which are not covered in the bylaws and the resolution or indenture, the laws and rules governing the commission shall control, where applicable.
(f)  When the board is created by the resolution or indenture, it shall have all of the power and authority for the management and operation of any facility which could be exercised by the commission.
(g)  By the terms of the resolution or indenture, the commission may make provision for later supplementation of the resolution or indenture to vest the management and control of the facility in a board of trustees having the powers, rights, and duties conferred or imposed by this section.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1971, 62nd Leg., p. 1159, ch. 264, Sec. 1, eff. May 19, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.119. Covenants for Management and Operation of Improvements

Sec. 60.119.  COVENANTS FOR MANAGEMENT AND OPERATION OF IMPROVEMENTS.  (a)  A resolution or order authorizing the issuance of obligations under this subchapter may include covenants with the holders of the obligations relating to:
(1)  the management and operation of the improvements and facilities;
(2)  the collection of fees and charges for the use of the improvements and facilities;
(3)  the disposition of the fees and charges;
(4)  the issuance of future obligations and creation of future liens and encumbrances against the improvements, facilities, and the revenue from them;  and
(5)  other pertinent matters, as may be deemed necessary to insure the marketability of the obligations.
(b)  The covenants shall not be inconsistent with the provisions of this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.120. Contracts, Leases, and Agreements Authorized

Sec. 60.120.  CONTRACTS, LEASES, AND AGREEMENTS AUTHORIZED.  (a)  A district acting under this subchapter may enter into any contract, lease, or agreement necessary or convenient to carry out any of the powers granted in this subchapter, including a contract for purchase, lease for purchase, or other agreement for the use or acquisition of real property, or improvements to real property or the use or acquisition of personal property.  The contract, lease, or agreement may be entered into with any person and any government or governmental agency including the United States, the State of Texas, and a public facility corporation organized under Chapter 303, Local Government Code.
(b)  Any contract, lease, or agreement entered into under Subsection (a) of this section shall be approved by resolution of the commission and shall be executed by the chairman, the executive director of the district, or an authorized representative of the executive director.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1330 (S.B. 1531), Sec. 3, eff. June 15, 2007.
Acts 2011, 82nd Leg., R.S., Ch. 1027 (H.B. 2770), Sec. 9, eff. June 17, 2011.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.121. Conversion of District

Sec. 60.121.  CONVERSION OF DISTRICT.  (a)  If the commission of any district organized under Article III, Section 52, of the Texas Constitution, finds it expedient to convert the district into a district operating under the provisions of Article XVI, Section 59, of the Texas Constitution, in order to utilize the provisions of this subchapter, the conversion may be accomplished as provided in Subchapter J of this chapter.
(b)  All proceedings and hearings held in connection with a conversion shall be adopted and conducted by the commission of the district instead of by the navigation board of the district.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.122. Improvements Not Payable From Taxes

Sec. 60.122.  IMPROVEMENTS NOT PAYABLE FROM TAXES.  (a)  No district, in the operation, maintenance, or repair of any improvements or facilities acquired, purchased, or constructed under the provisions of this subchapter, shall incur any indebtedness or assume any liability or obligation payable out of taxes.
(b)  Liabilities and obligations arising from these activities are payable solely out of the revenue from the improvements and facilities which may be applicable as authorized in this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.123. Pilot and Pilotage Laws Unaffected

Sec. 60.123.  PILOT AND PILOTAGE LAWS UNAFFECTED.  No provision of this subchapter may be construed to amend, repeal, or affect the laws relating to pilots and pilotage or their appointment and remuneration.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter E. Powers of Districts for Improvement of Port Facilities › Section 60.124. Gifts, Grants, and Donations

Sec. 60.124.  GIFTS, GRANTS, AND DONATIONS.  A district may accept a gift, grant, donation, or bequest of money, services, equipment, goods, or other tangible or intangible property from any source for any district purpose.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1027 (H.B. 2770), Sec. 10, eff. June 17, 2011.
Amended by:
Acts 2017, 85th Leg., R.S., Ch. 427 (S.B. 1395), Sec. 7, eff. June 1, 2017.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter F. Contracts With the United States › Section 60.151. Purpose

Sec. 60.151.  PURPOSE.  It is the purpose and intent of this subchapter to confer on districts individually, jointly, or mutually interested in a navigation project, including a project relating to improvements and facilities described in Sections 60.032 and 60.101 of this code, the fullest possible power of contract with regard to navigation or other projects of individual or common interest.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1991, 72nd Leg., ch. 794, Sec. 1, eff. June 16, 1991;  Acts 2003, 78th Leg., ch. 588, Sec. 5, eff. June 20, 2003.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter F. Contracts With the United States › Section 60.152. Authority to Enter Into Contract

Sec. 60.152.  AUTHORITY TO ENTER INTO CONTRACT.  (a)  One or more districts, which are interested in or may, in the judgment of the commission, be benefited by a navigation or other project, may enter into contracts with the United States or with another district, or both, to consummate navigation or other projects of common interest.
(b)  The contract may provide for:
(1)  the assumption of several, joint, or joint and several liability for construction, completion, and consummation of the project;
(2)  the acquisition of property in connection with the project;
(3)  the lending and contribution of funds of the district to the United States or to any other district in support or in aid of the project;
(4)  the issuance of bonds or notes by one or more of the districts to fund all or part of the project;
(5)  the obligation of one or more of the districts to fully or partially reimburse another district that has spent its own funds on the project or has issued bonds or notes to fund the project;
(6)  the securing of bonds or notes issued by one district to fund the project with a pledge of payments to be made by one or more of the other districts;  and
(7)  the assumption of responsibility for valid obligations, incurred in furtherance of the common project, of the United States or of any district.
(c)  A contract may provide that a district will make payment under the contract from proceeds from the sale of bonds or notes, from taxes, or from any other income of the district or any combination of these.  A district may make payments under a contract from taxes other than maintenance taxes, after the provisions of the contract have been approved by a majority of the electors voting at an election held for that purpose.  A contract election may be held alone or at the same time and in conjunction with an election to authorize bonds.  The procedure for calling the election, giving notice, conducting the election, and canvassing the returns is the same as the procedure for a bond election.  If the contract is approved, it constitutes an obligation against the taxing power of the district to the extent provided in the contract.
(d)  A district all or part of which is in another district may exercise the authority granted a district under this section.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1991, 72nd Leg., ch. 794, Sec. 2, eff. June 16, 1991;  Acts 2003, 78th Leg., ch. 588, Sec. 6, eff. June 20, 2003.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter F. Contracts With the United States › Section 60.153. Execution of Contracts

Sec. 60.153.  EXECUTION OF CONTRACTS.  A contract entered into by a district under this subchapter shall be approved by resolution of the commission and executed by the presiding officer of the commission, the executive director of the district, or an authorized representative of the executive director.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1330 (S.B. 1531), Sec. 4, eff. June 15, 2007.
Acts 2009, 81st Leg., R.S., Ch. 1191 (H.B. 3785), Sec. 2, eff. June 19, 2009.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.171. Authority to Borrow Money and Encumber Property and Franchise

Sec. 60.171.  AUTHORITY TO BORROW MONEY AND ENCUMBER PROPERTY AND FRANCHISE.  (a)  A district organized under the provisions of the constitution or laws of this state and created for the development of deep water navigation may borrow money and may mortgage and encumber part or all of its properties and facilities, the franchise, revenue, and income from the operation of its properties and facilities and everything pertaining to its properties and facilities to secure the payment of funds to purchase, build, improve, enlarge, extend, or repair any of its wharves, docks, warehouses, levees, bulkheads, canals, waterways, or other aids to navigation.
(b)  As additional security, the encumbrance may pledge the net income and revenue from the operation of properties and facilities of the district and may provide for a grant, to a purchaser under sale or foreclosure, of a franchise to operate, subject to all regulatory laws, the encumbered property and facilities for a term of not more than 20 years from the date of purchase.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.172. Notice of Hearing on Indebtedness

Sec. 60.172.  NOTICE OF HEARING ON INDEBTEDNESS.  (a)  When, for the purposes authorized by Section 60.171 of this code, a commission proposes to borrow money and mortgage and encumber any part or all of its properties, facilities, franchises, revenue, and income from the operation of its properties and facilities, the commission shall give notice of intention to authorize and issue the evidence of the indebtedness.
(b)  The commission shall fix a time and place at which a public hearing concerning the proposed indebtedness shall be held.  The date of the hearing shall be not less than seven days nor more than 30 days from the date of the resolution of the commission giving notice of the hearing date.
(c)  Notice published by the commission under this section shall:
(1)  include a statement of the amount and purpose of the proposed indebtedness;
(2)  inform all persons of the time and place of hearing; and
(3)  inform all persons of their right to express their views at the hearing, orally or in writing, and contend for or protest the creation of the indebtedness.
(d)  The secretary of the commission shall publish the notice not earlier than the seventh day before the date of the hearing:
(1)  once in a newspaper of general circulation in the district's territory that is available to residents of the district; and
(2)  on the district's Internet website, if the district maintains a website, in an area of that website used to inform district residents about events such as public meetings.
(e)  Repealed by Acts 2021, 87th Leg., R.S., Ch. 440 (S.B. 1642), Sec. 10, eff. June 8, 2021.
(f)  The duties imposed on the secretary of the commission by this section may be performed by any commission member or the assistant secretary of the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Amended by:
Acts 2021, 87th Leg., R.S., Ch. 440 (S.B. 1642), Sec. 4, eff. June 8, 2021.
Acts 2021, 87th Leg., R.S., Ch. 440 (S.B. 1642), Sec. 10, eff. June 8, 2021.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.173. Hearing on Indebtedness

Sec. 60.173.  HEARING ON INDEBTEDNESS.  (a)  At the time and place set for the hearing or on a subsequent date, the commission shall hear and determine all matters concerning the proposed indebtedness, and the hearing may be adjourned from day to day and from time to time as the commission considers necessary.
(b)  At the hearing, any person interested may appear before the commission in person or by attorney and contend for or protest the creation of the proposed indebtedness.
(c)  The commission may adopt a resolution or order providing for the assumption of the proposed indebtedness and the issuance of the evidence of the indebtedness if at the hearing it is determined by the commission that the proposed improvements are necessary, feasible, practicable, and needed and will benefit the property in the district.
(d)  The commission may, in respect to the issuance, sale, and delivery of securities evidencing the indebtedness, adopt all necessary resolutions, orders, certificates, and trust indentures.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.174. Issuance of Obligations

Sec. 60.174.  ISSUANCE OF OBLIGATIONS.  (a)  The district may issue evidences of indebtedness secured by encumbrance which mature not more than 20 years after the date of issuance.
(b)  The encumbrance and evidences of indebtedness shall include the clause:  "The holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation."
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.175. Execution and Sale of Obligations

Sec. 60.175.  EXECUTION AND SALE OF OBLIGATIONS.  (a)  Each note, warrant, or other security evidencing any indebtedness created under the provisions of this subchapter shall be signed by the chairman of the commission, countersigned by the secretary of the commission, and have the seal of the district impressed on it.
(b)  Each note, warrant, or other security may be registered as to principal by the trustee named and designated by the commission in the trust indenture executed by the commission to secure payment of the obligation.
(c)  The evidences of indebtedness may be sold by the commission on the best terms and for the best price possible.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.176. Obligations as Charge on Encumbered Property and Facilities

Sec. 60.176.  OBLIGATIONS AS CHARGE ON ENCUMBERED PROPERTY AND FACILITIES.  (a)  No obligation issued under Section 60.174 of this code shall be a debt of the district issuing the obligation but shall be solely a charge on the encumbered property and facilities.
(b)  Revenue and income from the encumbered property and facilities of the district shall not be considered in determining the power of the district to issue any bonds for any purpose authorized by law.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.177. Lien on Revenue; Foreclosure of Encumbrance

Sec. 60.177.  LIEN ON REVENUE;  FORECLOSURE OF ENCUMBRANCE.  (a)  If the revenue and income from the properties and facilities of the district are encumbered under the provisions of this subchapter, the expense of operation and maintenance necessary to render efficient service of the properties and facilities shall be a first lien and charge against the revenue and income.  The first lien shall be prior to and superior to the lien of the encumbrance.
(b)  No encumbrance shall be foreclosed because of default of the district until the default has existed for a period of 90 days and notice of the default has been served on the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.178. Trustee to Enforce Foreclosure; Franchise Under Foreclosure

Sec. 60.178.  TRUSTEE TO ENFORCE FORECLOSURE;  FRANCHISE UNDER FORECLOSURE.  (a)  The encumbrance may provide for a trustee to enforce foreclosure.
(b)  In the event of foreclosure of an encumbrance created under this subchapter, the encumbrance may provide for the grant of a franchise to the purchaser under foreclosure to operate the properties encumbered for a period not to exceed 20 years from the date of default.  The district shall have the option at any five-year period for 20 years after default to repurchase the properties on reasonable terms and at reasonable prices to be set forth in the encumbrance.
(c)  The provisions of Sections 61.164-61.168 of this code, relating to the grant of franchises by districts, shall not apply to the grant of any franchises under authority of this section.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.179. Borrowing for Current Expenses

Sec. 60.179.  BORROWING FOR CURRENT EXPENSES.  The district may borrow funds and issue warrants to pay current expenses.  The warrants issued shall be payable not later than the close of any calendar year for which loans are made and may not exceed in total the anticipated revenue of the district.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.180. Management and Control by Commission

Sec. 60.180.  MANAGEMENT AND CONTROL BY COMMISSION.  The management and control of any property and facilities encumbered under the provisions of this subchapter shall, during the time of the encumbrance, be exercised by the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter G. Powers of District to Provide Improvements Without Taxation › Section 60.181. Proceedings to Borrow Money

Sec. 60.181.  PROCEEDINGS TO BORROW MONEY.  (a)  The commission shall supervise all proceedings to be taken and acts to be performed under this subchapter concerning the borrowing of money, the mortgaging and encumbering of properties and facilities, the franchise, revenue, and income from the operation of properties and facilities, and the issuance of evidences of indebtedness.
(b)  The commissioners court of any county included in whole or in part inside the boundaries of a district and the navigation board established for a district shall not be required to take any action in connection with this subchapter, approve or ratify any proceedings taken by the commission, or approve or ratify any act performed by the commission.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter H. Promotion and Development Fund in Certain Districts › Section 60.201. Purpose

Sec. 60.201.  PURPOSE.  Districts in this state which operate ports or waterways and harbor and terminal facilities are in keen competition with other ports, waterways, harbors, and terminals outside the state and with privately owned port and terminal facilities inside the state.  Well-situated and well-equipped ports and waterways in other nearby states and owners of substantial port and terminal facilities located inside and outside the state are advertising, promoting and developing their competing ports, waterways, harbors, and terminals through expenditure of large amounts of money without any audit or restriction on expenditure of the money.  This activity or expenditure is thwarting and impeding the use, progress, and development of the ports, waterways, harbors, and terminals of this state.  Continuation of this hardship and injustice can best be met and coped with by more liberal use of some relatively small fund set aside from the gross income from operations of the ports of this state to be used in the manner provided in this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1993, 73rd Leg., ch. 114, Sec. 1, eff. Aug. 30, 1993.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter H. Promotion and Development Fund in Certain Districts › Section 60.202. Creation of Fund

Sec. 60.202.  CREATION OF FUND.  A district organized under general or special law may set aside out of current income from its operations a promotion and development fund of not more than five percent of its gross income from operations in each calendar year.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1993, 73rd Leg., ch. 114, Sec. 1, eff. Aug. 30, 1993.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter H. Promotion and Development Fund in Certain Districts › Section 60.203. Expenditure of Fund

Sec. 60.203.  EXPENDITURE OF FUND.  Money in the promotion and development fund shall be spent by the commission or as the commission may direct to pay any expenses connected with:
(1)  any activity or matter incidental to the advertising, development, or promotion of the district or its ports, waterways, harbors, or terminals;
(2)  furthering the general welfare of the district and its facilities;  or
(3)  the betterment of the district's relations with steamship and rail lines, shippers, consignees of freight, governmental officials, or others interested or sought to be interested in the ports, waterways, harbors, or terminals.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter H. Promotion and Development Fund in Certain Districts › Section 60.204. Management and Control of Promotion and Development Fund

Sec. 60.204.  MANAGEMENT AND CONTROL OF PROMOTION AND DEVELOPMENT FUND.  (a)  The money in the promotion and development fund shall be kept separate from all other funds and accounts of the district, and no money collected from assessing or levying taxes may be mingled with the fund.
(b)  The promotion and development fund shall be under the exclusive control of the commission, and the commission shall have full responsibility for auditing, approving, and safeguarding the expenditure of money from the fund.
(c)  The county auditor shall exercise his usual supervision and control to assure that the commission sets aside no more than five percent of its gross income from operations in each calendar year in the promotion and development fund.  The county auditor may audit disbursements from the fund and shall be entitled to a monthly statement showing the:
(1)  date of each disbursement from the fund;
(2)  amount disbursed;
(3)  person or concern to whom disbursed;  and
(4)  general purpose of each disbursement.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 2001, 77th Leg., ch. 183, Sec. 1, eff. May 18, 2001.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter H. Promotion and Development Fund in Certain Districts › Section 60.205. Other Expenses Not Affected

Sec. 60.205.  OTHER EXPENSES NOT AFFECTED.  Since this subchapter authorizes disbursements from the promotion and development fund for unusual purposes and occasions not covered by other law, the setting aside of the fund and disbursements from the fund shall not affect payment of other expenses customarily approved, audited, and paid out of the regular funds of the district.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter I. Revenue Bonds › Section 60.221. Modification of Revenue Bond Resolution

Sec. 60.221.  MODIFICATION OF REVENUE BOND RESOLUTION.  If a district adopts a resolution for the issuance of revenue bonds, provision may be made in the resolution for its modification after the issuance of the bonds in the manner and with the consent of the holders of a fixed percentage of the bonds if provided in the resolution before the issuance of the bonds.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter J. Conversion of Districts › Section 60.241. Authority to Convert

Sec. 60.241.  AUTHORITY TO CONVERT.  Any district created under the provisions of Article III, Section 52, of the Texas Constitution may be converted into a district operating under Article XVI, Section 59, of the Texas Constitution, in the manner provided in this subchapter.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter J. Conversion of Districts › Section 60.242. Resolution

Sec. 60.242.  RESOLUTION.  (a)  The navigation board shall adopt a resolution declaring that in its judgment conversion to a district operating under Article XVI, Section 59, of the Texas Constitution will be in the best interest of the district and will be a benefit to the land and property located in the district.
(b)  The resolution shall call a hearing and shall be entered in the minutes of the board.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter J. Conversion of Districts › Section 60.243. Notice of Resolution

Sec. 60.243.  NOTICE OF RESOLUTION.  (a)  Notice of the resolution shall be given by publishing notice once a week for two consecutive weeks in a newspaper with general circulation in the county in which the district is located.  The first publication shall appear not less than 14 full days before the time set for the hearing.
(b)  The notice shall:
(1)  state the time and place of the hearing;
(2)  set out the entire resolution;  and
(3)  notify interested persons to appear and offer testimony for or against the proposal.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter J. Conversion of Districts › Section 60.244. Findings

Sec. 60.244.  FINDINGS.  (a)  After the hearing, if the navigation board finds that conversion to a district operating under Article XVI, Section 59, of the Texas Constitution, would be in the best interest of the district and would be a benefit to the land and property located in the district, it shall enter an order making these findings and the district shall become a district operating under Article XVI, Section 59, of the Texas Constitution.
(b)  If at the hearing the navigation board finds that conversion of the district into a conservation and reclamation district operating under Article XVI, Section 59, of the Texas Constitution would serve the best interests of the district and would be a benefit to the land and property located in the district, it may, in the alternative to the procedures prescribed in Subsection (a) above, enter an order making this finding, but providing that conversion is not final unless the voters, in the election provided by Section 60.247 of this code, authorize the conversion of the district and the continuation of the existing authority of the district to levy an annual maintenance tax of not to exceed 10 cents on the $100 valuation of all property in this district.
(c)  If the navigation board finds that conversion to a district operating under Article XVI, Section 59, of the Texas Constitution, would not be in the best interest of the district and would not be a benefit to the land and property located in the district, it shall enter an order making these findings.
(d)  The findings of the navigation board are final and are not subject to appeal or review.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.  Amended by Acts 1983, 68th Leg., p. 4245, ch. 677, Sec. 1, eff. June 19, 1983.
2023 Texas Statutes › Water Code › Title 4 - General Law Districts › Chapter 60 - Navigation Districts--General Provisions › Subchapter J. Conversion of Districts › Section 60.245. Status of Converted District

Sec. 60.245.  STATUS OF CONVERTED DISTRICT.  A district which is converted under the provisions of this subchapter shall be constituted a district operating under Article XVI, Section 59, of the Texas Constitution and shall be governed by the provisions of Chapter 62 of this code as if it had originally been organized under Article XVI, Section 59, of the Texas Constitution, except the commissioners of a converted district shall be appointed in the manner that initial commissioners are appointed under Sections 62.061 and 62.062 of this code.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.