reglab/statecodes huggingface dataset:
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter B. Water Development Bonds › Section 17.030. Bonds Negotiable Instruments

Sec. 17.030.  BONDS NEGOTIABLE INSTRUMENTS.  The bonds issued under the provisions of this chapter are negotiable instruments under the laws of this state.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter B. Water Development Bonds › Section 17.031. Bonds Not Taxable

Sec. 17.031.  BONDS NOT TAXABLE.  Bonds issued under this chapter, the income from the bonds, and the profit made on their sale are free from taxation within the state.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter B. Water Development Bonds › Section 17.032. Authorized Investments

Sec. 17.032.  AUTHORIZED INVESTMENTS.  Bonds issued under this chapter are legal and authorized investments for:
(1)  banks;
(2)  savings banks;
(3)  trust companies;
(4)  building and loan associations;
(5)  insurance companies;
(6)  fiduciaries;
(7)  trustees;
(8)  guardians;  and
(9)  sinking funds of cities, towns, villages, counties, school districts, and other political subdivisions and public agencies of the state.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter B. Water Development Bonds › Section 17.033. Security for Deposit of Funds

Sec. 17.033.  SECURITY FOR DEPOSIT OF FUNDS.  Bonds issued under this chapter when accompanied by all appurtenant unmatured coupons are lawful and sufficient security for all deposits of funds of the state or of a city, town, village, county, school district, or any other agency or political subdivision of the state at the par value of the bonds.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter B. Water Development Bonds › Section 17.034. Mutilated, Lost, Destroyed Bonds

Sec. 17.034.  MUTILATED, LOST, DESTROYED BONDS.  The board may provide for the replacement of any mutilated, lost, or destroyed bond.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter B. Water Development Bonds › Section 17.035. Subchapter Cumulative of Other Laws

Sec. 17.035.  SUBCHAPTER CUMULATIVE OF OTHER LAWS.  (a)  This subchapter is cumulative of other laws on the subject, and the board may use provisions of other applicable laws in the issuance of its bonds and other obligations, but this subchapter is wholly sufficient authority for the issuance of bonds and the performance of all other acts and procedures authorized by this subchapter.
(b)  In addition to other authority granted by this subchapter, the board may exercise the authority granted to the governing body of an issuer with regard to issuance of obligations under Chapter 1371, Government Code.
Added by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.407, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.071. Disposition of Money Received

Sec. 17.071.  DISPOSITION OF MONEY RECEIVED.  All money received by the board shall be deposited in the State Treasury and credited to the proper special fund as provided in this subchapter.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.073. Water Development and Economically Distressed Areas Clearance Funds

Sec. 17.073.  WATER DEVELOPMENT AND ECONOMICALLY DISTRESSED AREAS CLEARANCE FUNDS.  (a)  The Texas Water Development Clearance Fund, referred to as the "clearance fund," is a special fund in the State Treasury.  Transfers shall be made from this fund as provided by this subchapter.
(b)  The Economically Distressed Areas Clearance Fund is a special fund in the State Treasury.  Transfers shall be made from this fund as provided by this subchapter.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.16.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.074. Interest and Sinking Fund

Sec. 17.074.  INTEREST AND SINKING FUND.  The Texas Water Development Bonds Interest and Sinking Fund, referred to as the "interest and sinking fund," is a special fund in the State Treasury into which there shall be paid, from sources specified in this chapter, amounts other than amounts required to be paid into the economically distressed areas interest and sinking fund sufficient to:
(1)  pay the interest coming due on all outstanding bonds other than bonds covered by Sections 17.0111 and 17.0112 of this code during the ensuing fiscal year;
(2)  pay the principal on all bonds other than bonds covered by Sections 17.0111 and 17.0112 of this code that mature during the ensuing fiscal year, plus collection charges and exchanges on the bonds;  and
(3)  establish a reserve equal to the average annual principal and interest requirements on all outstanding bonds other than bonds covered by Sections 17.0111 and 17.0112 of this code.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.16.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.0741. Economically Distressed Areas Interest and Sinking Fund

Sec. 17.0741.  ECONOMICALLY DISTRESSED AREAS INTEREST AND SINKING FUND.  (a)  The Economically Distressed Areas Interest and Sinking Fund is a special fund in the State Treasury to be used to pay debt service on bonds issued for the purposes provided by Subchapter K of this chapter.  The fund is composed of:
(1)  proceeds from the sale of political subdivision bonds to the Texas Water Resources Finance Authority in amounts provided by the General Appropriations Act;
(2)  money provided by the federal government, the state, counties, or other local governmental entities and by private entities for the purpose of paying debt service on bonds issued for purposes provided by Subchapter K of this chapter;   and
(3)  any other money deposited to the credit of the fund.
(b)  Money shall be paid into the economically distressed areas interest and sinking fund from sources specified in Subsection (a) of this section in amounts sufficient to:
(1)  pay the interest coming due on all outstanding bonds during the ensuing fiscal year;
(2)  pay the principal on all bonds that mature during the ensuing fiscal year, plus collection charges and exchanges on bonds;  and
(3)  establish a reserve equal to the average annual principal and interest requirements on all outstanding bonds.
Added by Acts 1989, 71st Leg., ch. 624, Sec. 2.16.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.075. Administrative Fund

Sec. 17.075.  ADMINISTRATIVE FUND.  The Texas Water Development Board Administrative Fund, referred to as the "administrative fund," is a special fund in the State Treasury.  From sources specified in this chapter, money shall be credited to this fund in amounts sufficient to pay the administrative expenses of the board as authorized by legislative appropriation.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.076. Combined Facilities Operation and Maintenance Fund

Sec. 17.076.  COMBINED FACILITIES OPERATION AND MAINTENANCE FUND.  (a)  The Combined Facilities Operation and Maintenance Fund is a special fund in the State Treasury.
(b)  Money received from the sale of water, standby service, and the lease of land needed for operation and maintenance of facilities shall be credited to this fund.  Any of the money which is not needed for operation and maintenance of facilities may be credited to the interest and sinking fund or used to meet contractual obligations incurred by the board in acquiring facilities.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.077. Credits to Clearance Funds

Sec. 17.077.  CREDITS TO CLEARANCE FUNDS.  (a)  Except as provided by Subsection (b) of this section, and except for proceeds from the sale of bonds and proceeds from the sale, refunding, or prepayment, of political subdivision bonds acquired in carrying out the purposes in Article III, Sections 49-c, 49-d, 49-d-1, 49-d-2, 49-d-6, and 49-d-7, of the Texas Constitution, and the proceeds from the sale, refinancing, or other liquidation of the investments made under Section 17.083 of this code which shall be deposited in the fund that provided the money for the investment, all money received by the board in any fiscal year, including all amounts received as repayment of loans to political subdivisions and interest on those loans, shall be credited to the clearance fund.  Money in the clearance fund may be transferred at any time to the interest and sinking fund until the reserve in that fund is equal to the average annual principal and interest requirements on all outstanding bonds.
(b)  Any amounts received as repayment of financial assistance made to a political subdivision under Subchapter K of this chapter  and interest on that financial assistance shall be deposited to the economically distressed areas clearance fund.  Money in the economically distressed areas clearance fund may be transferred at any time to the economically distressed areas interest and sinking fund until the reserve in that fund is equal to the average annual principal and interest requirements on all outstanding bonds.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1981, 67th Leg., p. 3150, ch. 828, Sec. 1, eff. June 17, 1981;  Acts 1985, 69th Leg., ch. 133, Sec. 2.07;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1987, 70th Leg., 2nd C.S., ch. 66, Sec. 6;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17;  Acts 1989, 71st Leg., ch. 1062, Sec. 5.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.078. Transfers at End of Fiscal Year

Sec. 17.078.  TRANSFERS AT END OF FISCAL YEAR.  (a)  Not later than 15 days after the end of each fiscal year, any money credited to the clearance fund at the end of the fiscal year shall be transferred to the other special funds as prescribed by Sections 17.079 through 17.082 of this code.
(b)  Not later than 15 days after the end of each fiscal year, any money credited to the economically distressed areas clearance fund shall be transferred to the other special funds as prescribed by Sections 17.0791 through 17.082 of this code.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.079. Transfers to Interest and Sinking Fund

Sec. 17.079.  TRANSFERS TO INTEREST AND SINKING FUND.  (a)  The board shall determine:
(1)  the amount of interest coming due on all bonds outstanding, except for those dedicated pursuant to Section 17.0111 of this code;
(2)  the amount of principal of bonds maturing and becoming payable during the fiscal year, except for those bonds dedicated pursuant to Section 17.0111 of this code;  and
(3)  the average annual principal and interest requirements on all outstanding bonds, except for those bonds dedicated pursuant to Section 17.0111 of this code.
(b)  The comptroller shall transfer to the interest and sinking fund, after taking into account any money and securities on deposit in the interest and sinking fund, an amount necessary to pay:
(1)  all principal and interest maturing on the bonds, except for those bonds dedicated pursuant to Section 17.0111 of this code, during the fiscal year;
(2)  all collection charges and exchanges on the bonds in Subsection (b)(1) of this section;  and
(3)  the money sufficient to establish and maintain an additional reserve equal to the average annual principal and interest requirements on all outstanding bonds, except for those bonds dedicated pursuant to Section 17.0111 of this code.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.0791. Transfers to Economically Distressed Areas Interest and Sinking Fund

Sec. 17.0791.  TRANSFERS TO ECONOMICALLY DISTRESSED AREAS INTEREST AND SINKING FUND.  (a)  The board shall determine:
(1)  the amount of interest coming due on all bonds outstanding dedicated pursuant to Section 17.0111 of this code;
(2)  the amount of principal of those bonds maturing and becoming payable during the fiscal year;  and
(3)  the average annual principal and interest requirements on all outstanding bonds.
(b)  The comptroller shall transfer to the economically distressed areas interest and sinking fund, after taking into account any money and securities on deposit in the economically distressed areas interest and sinking fund, an amount necessary to pay:
(1)  all principal and interest maturing on the bonds dedicated pursuant to Section 17.0111 of this code during the fiscal year;
(2)  all collection charges and exchanges on those bonds;  and
(3)  the money sufficient to establish and maintain an additional reserve equal to the average annual principal and interest requirements on all outstanding bonds.
Added by Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.080. Additional Funds for Payment of Bonds

Sec. 17.080.  ADDITIONAL FUNDS FOR PAYMENT OF BONDS.  (a)  If the amount transferred from the clearance fund plus the money and securities in the interest and sinking fund are insufficient to pay the interest coming due and the principal maturing on the bonds during the fiscal year, then after the transfer to the interest and sinking fund of as much money as is available in the clearance fund, the comptroller shall transfer out of the first money coming into the treasury, not otherwise appropriated by the constitution, the amount required to pay principal and interest on the bonds during the fiscal year, except for those bonds dedicated pursuant to Section 17.0111 of this code.
(b)  If the amount transferred from the economically distressed areas clearance fund plus the money and securities in the economically distressed areas interest and sinking fund are insufficient to pay the interest coming due and the principal maturing on the bonds dedicated pursuant to Section 17.0111 of this code during the fiscal year, then after the transfer to the economically distressed areas interest and sinking fund of as much money as is available in the economically distressed areas clearance fund, the comptroller shall transfer out of the first money coming into the treasury, not otherwise appropriated by the constitution, the amount required to pay principal and interest on the bonds during the fiscal year.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17;  Acts 1997, 75th Leg., ch. 1423, Sec. 20.06, eff. Sept. 1, 1997.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.081. Transfers to Administrative Fund

Sec. 17.081.  TRANSFERS TO ADMINISTRATIVE FUND.  If money remains in the clearance fund or the economically distressed areas clearance fund after making the transfers provided in Section 17.079 of this code, then to the extent possible the comptroller shall transfer to the administrative fund an amount sufficient to cover the legislative appropriation for administrative expenses of the board for the fiscal year.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.082. Transfers to Development Fund

Sec. 17.082.  TRANSFERS TO DEVELOPMENT FUND.  If money remains in the clearance fund or the economically distressed areas clearance fund after making the transfers provided in Sections 17.079, 17.0791, and 17.081 of this code, the comptroller shall transfer the balance to the appropriate account in the development fund at the end of each fiscal year to be used for any purpose for which proceeds of bonds in such account may be used.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.0821. Transfers to Revolving Funds

Sec. 17.0821.  TRANSFERS TO REVOLVING FUNDS.  (a)  In order to meet requirements of Title VI of the Federal Water Pollution Control Act, the board may direct the comptroller to transfer amounts from the water quality enhancement account to the state water pollution control revolving fund created by Section 15.601 of this code to provide financial assistance pursuant to this chapter.
(b)  In order to meet requirements of any federal legislation or federal agency program under which an additional state revolving fund, as defined in Section 15.602 of this code, has been established, the board may direct the comptroller to transfer amounts from the water supply account, the flood control account, and the economically distressed areas account to such additional state revolving fund to provide financial assistance pursuant to this chapter.
(c)  The board shall use the state water pollution control revolving fund in accordance with Section 15.604(a)(4) of this code and the Federal Water Pollution Control Act, Section 603(d)(4), as a source of revenue to be deposited in accordance with this chapter for the payment of principal and interest on water quality enhancement bonds issued by the state, the proceeds of which are deposited into the state water pollution control revolving fund.
(d)  In the event amounts are transferred to any additional state revolving fund, as defined in Section 15.602 of this code, pursuant to Subsection (b) of this section, the board shall, to the extent permitted by the federal legislation or federal agency program under which such additional state revolving fund was established, use such additional state revolving fund as a source of revenue to be deposited in accordance with this chapter for the payment of principal and interest on water development bonds issued by the state, the proceeds of which are deposited into such additional state revolving fund.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 2, eff. June 17, 1987.  Amended by Acts 1993, 73rd Leg., ch. 184, Sec. 5, eff. May 19, 1993.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 428 (S.B. 942), Sec. 4, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.083. Investment of Reserve Money

Sec. 17.083.  INVESTMENT OF RESERVE MONEY.  The board may invest any money credited to the development fund and not immediately required for its intended use and money in the interest and sinking fund and in the economically distressed areas interest and sinking fund, including the reserve portions of the interest and sinking fund and the economically distressed areas interest and sinking fund, in investments authorized by law for state deposits under Section 404.024, Government Code.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 7, Sec. 2, eff. March 24, 1987;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 308, Sec. 2, eff. June 14, 1989;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17;  Acts 1993, 73rd Leg., ch. 477, Sec. 8, eff. Aug. 30, 1993.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.084. Limitation on Board Investment

Sec. 17.084.  LIMITATION ON BOARD INVESTMENT.  The board is bound to the extent that the resolution authorizing the issuance of the bonds further restricts the investment of money in bonds of the United States.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.085. Sale of Securities

Sec. 17.085.  SALE OF SECURITIES.  All of the bonds and obligations owned in the interest and sinking fund, in the economically distressed areas interest and sinking fund, or in the development fund are defined as securities.  The board may sell securities owned in the interest and sinking fund, in the economically distressed areas interest and sinking fund, or in any account in the development fund at the governing market price.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter C. Funding Provisions › Section 17.086. Transfers to Be Made by Comptroller

Sec. 17.086.  TRANSFERS TO BE MADE BY COMPTROLLER.  The comptroller shall make the transfers required by this subchapter.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.121. Financial Assistance

Sec. 17.121.  FINANCIAL ASSISTANCE.  The water supply account may be used by the board to provide financial assistance to political subdivisions for the construction, acquisition, or improvement of water supply projects, including those projects initiated for the sole purpose of conservation as defined in Section 17.001(23)(B) of this code.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1981, 67th Leg., p. 961, ch. 367, Sec. 1, eff. June 10, 1981;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 1062, Sec. 6.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.122. Application for Assistance

Sec. 17.122.  APPLICATION FOR ASSISTANCE.  (a)  In an application to the board for financial assistance for a water supply project, the applicant shall include:
(1)  the name of the political subdivision and its principal officers;
(2)  a citation of the law under which the political subdivision operates and was created;
(3)  a description of the water supply project for which the financial assistance will be used;
(4)  the total cost of the water supply project;
(5)  the amount of state financial assistance requested;
(6)  the plan for repaying the total cost of the water supply project;
(7)  the method for obtaining the financial assistance, whether by purchase of bonds or purchase of other obligations of the political subdivision;
(8)  the water conservation plan required by Section 16.4021; and
(9)  any other information the board requires.
(b)  If an applicant has a program of water conservation, he shall state in his application that he has such a program and shall describe that program in the manner required by board rules.
(c)  If the applicant claims an exemption under Section 16.4021, the applicant shall state the exemption in the application and provide information relating to that exemption as provided by board rules.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1985, 69th Leg., ch. 133, Sec. 1.03;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 12, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.123. Findings Regarding Permits

Sec. 17.123.  FINDINGS REGARDING PERMITS.  (a)  The board shall not release funds for the construction of that portion of a project that proposes surface water or groundwater development until the executive administrator makes a written finding:
(1)  that an applicant proposing surface-water development has the necessary water right authorizing it to appropriate and use the water which the water supply project will provide;  or
(2)  that an applicant proposing groundwater development has the right to use water that the water supply project will provide.
(b)  The board may release funds for the costs of planning, engineering, architectural, legal, title, fiscal, or economic investigation, studies, surveys, or designs before making the finding required under Subsection (a) if the executive administrator determines that a reasonable expectation exists that the finding will be made before the release of funds for construction.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1985, 69th Leg., ch. 795, Sec. 1.053, eff. Sept. 1, 1985;  Acts 1987, 70th Leg., ch. 246, Sec. 2, eff. Aug. 31, 1987;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 2001, 77th Leg., ch. 1234, Sec. 29, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.124. Considerations in Passing on Applications

Sec. 17.124.  CONSIDERATIONS IN PASSING ON APPLICATIONS.  In passing on an application from a political subdivision for financial assistance for a water supply project, the board shall consider:
(1)  the needs of the area to be served by the water supply project, the benefit of the water supply project to the area, the relationship of the water supply project to the overall, statewide water needs, and the relationship of the water supply project to the state water plan;  and
(2)  the availability of revenue to the political subdivision, from all sources, for the ultimate repayment of the cost of the water supply project, including interest.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1985, 69th Leg., ch. 133, Sec. 2.12;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1993, 73rd Leg., ch. 477, Sec. 9, eff. Aug. 30, 1993.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.1245. Evaluation

Sec. 17.1245.  EVALUATION.   In passing on an application for financial assistance from a retail public utility that provides potable water service to 3,300 or more connections, the board shall:
(1)  evaluate for compliance with the board's best management practices the utility's water conservation plan required under Section 13.146; and
(2)  issue a report to a utility detailing the results of the evaluation conducted under Subdivision (1).
Added by Acts 2013, 83rd Leg., R.S., Ch. 1139 (H.B. 3605), Sec. 2, eff. September 1, 2013.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 84 (S.B. 1574), Sec. 2, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 573 (S.B. 241), Sec. 1.45, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.125. Approval of Application

Sec. 17.125.  APPROVAL OF APPLICATION.  (a)  The board by resolution may approve an application if, after considering the factors listed in Section 17.124 of this code and any other relevant factors, the board finds:
(1)  that the public interest requires state assistance in the water supply project;
(2)  and that in its opinion the revenue or taxes pledged by the political subdivision will be sufficient to meet all the obligations assumed by the political subdivision during the succeeding period of not more than 50 years.
(b)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
(b-1)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
(b-2)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
(d)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
(e)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
(f)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  Acts 1985, 69th Leg., ch. 133, Sec. 1.04;  Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1993, 73rd Leg., ch. 477, Sec. 10, eff. Aug. 30, 1993;  Acts 2003, 78th Leg., ch. 688, Sec. 3, eff. June 20, 2003.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1430 (S.B. 3), Sec. 2.19, eff. September 1, 2007.
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(7), eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.127. Limitation on Use of Funds

Sec. 17.127.  LIMITATION ON USE OF FUNDS.  If there is insufficient money available to fund all applications under this subchapter, the board shall give preference to applications for political subdivisions that the board finds cannot reasonably finance the project without assistance from the state.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter D. Assistance to Political Subdivisions for Water Supply Projects › Section 17.128. Recreational Access

Sec. 17.128.  RECREATIONAL ACCESS.  If the board is providing financial assistance for a water storage project, it must also find affirmatively that the applicant has a plan to provide adequate public recreational access areas to suitable recreational resources.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.171. Definition

Sec. 17.171.  DEFINITION.  In this subchapter, "project" includes water supply projects, treatment works, and flood control measures.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.172. Applicability

Sec. 17.172.  APPLICABILITY.  This subchapter applies to financial assistance made available from the water supply account, the water quality enhancement account, the flood control account, and the economically distressed areas account under Subchapters D, F, G, and K of this chapter.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.18.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.173. Method of Financial Assistance

Sec. 17.173.  METHOD OF FINANCIAL ASSISTANCE.  The board may provide financial assistance by using money in the water supply account, the water quality enhancement account, the flood control account, and the economically distressed areas account to purchase bonds or other obligations issued by the political subdivision to finance the project.  The board may purchase bonds or other obligations that are secondary or subordinate to other bonds or obligations issued by the political subdivision, including outstanding prior lien bonds previously issued by the political subdivision when this will avoid or reduce the necessity for issuing junior lien bonds for subsequent sale to the board.  The board may purchase refunding bonds or obligations of a political subdivision issued for the purpose of refunding bonds or other obligations issued for the construction of any projects described in this chapter.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.18;  Acts 1991, 72nd Leg., ch. 516, Sec. 5, eff. Sept. 1, 1991.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.174. Conditional Approval

Sec. 17.174.  CONDITIONAL APPROVAL.  The board may make binding commitments to provide financial assistance for any project in accordance with this code conditioned on the future availability of money in the appropriate account of the development fund.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.175. Bond Maturity

Sec. 17.175.  BOND MATURITY.  The board may not purchase bonds or other securities which have a maturity date more than 50 years from the date of issuance.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.176. Interest Rate

Sec. 17.176.  INTEREST RATE.  (a)  Except as provided in Subsection (b) of this section, bonds and securities purchased by the board on or after September 1, 1977, with money derived from the sale of bonds issued under this chapter shall bear interest at the lending rate.  The bonds shall bear coupons evidencing interest at a rate or combination of rates that will approximate the lending rate as nearly as the board deems practicable.  The lending rate shall be affected by the payment of premiums or the deduction of discounts as necessary.
(b)  Bonds and securities purchased by the board pursuant to applications for financial assistance approved by the board prior to September 1, 1977, shall bear interest at the rate prescribed by Subsection (a) of this section prior to this amendment.  Outstanding prior lien bonds purchased by the board under Section 17.173 of this code need not bear the interest rate provided in Subsection (a) of this section, but the board may pay such price or prices for outstanding prior lien bonds which in its discretion will accomplish the objective of that section.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.1765. Certification of Application

Sec. 17.1765.  CERTIFICATION OF APPLICATION.  Before the board may purchase bonds or other obligations issued by a political subdivision, the political subdivision must certify to the board that the application for financial assistance filed with the board was approved in an open meeting.
Added by Acts 1997, 75th Leg., ch. 297, Sec. 1, eff. Sept. 1, 1997.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.177. Approval and Registration

Sec. 17.177.  APPROVAL AND REGISTRATION.  The board shall not purchase any bonds or securities that have not been approved by the attorney general and registered by the comptroller.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.178. Bonds Incontestable

Sec. 17.178.  BONDS INCONTESTABLE.  The bonds or other securities issued by a political subdivision are valid, binding, and incontestable after:
(1)  approval by the attorney general;
(2)  registration by the comptroller;  and
(3)  purchase by and delivery to the board.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.179. Security for Bonds

Sec. 17.179.  SECURITY FOR BONDS.  (a)  Except as provided by Subsection (c) of this section, bonds purchased by the board shall be supported by:
(1)  all or part of the net revenue from the operation of the project;
(2)  taxes levied by the political subdivision for the purpose;  or
(3)  a combination of taxes and net revenue, and revenue from other available sources.
(b)  The board may require that the bonds be supported both by taxes and by net revenue from the operation of the project in any ratio the board considers necessary to fully secure the investment.  The board shall establish other conditions and requirements it considers to be consistent with sound investment practices and in the public interest.
(c)  Bonds purchased by the board under Subchapter K of this chapter  may be additionally supported by money provided to the political subdivision by the federal or state government and by private donations.
(d)  With respect to projects for which financial assistance is made available under this chapter, the Texas Water Development Board shall file semiannually with the Bond Review Board a report on the performance of loans made by the Texas Water Development Board in connection with the projects.  The Bond Review Board shall review the reports filed by the Texas Water Development Board under this subsection to assess the adequacy of the security for the bonds purchased.  The filing dates and the contents of the reports must comply with any rules adopted by the Bond Review Board.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.18;  Acts 1991, 72nd Leg., 1st C.S., ch. 4, Sec. 13.01, eff. Aug. 22, 1991;  Acts 2001, 77th Leg., ch. 1420, Sec. 8.408, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.181. Sale of Bonds by Board

Sec. 17.181.  SALE OF BONDS BY BOARD.  The board may sell or dispose of bonds purchased with money in the water supply account, the water quality enhancement account, the flood control account, or the economically distressed areas account.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1989, 71st Leg., ch. 624, Sec. 2.18.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.182. Proceeds From Sale

Sec. 17.182.  PROCEEDS FROM SALE.  Unless used to pay debt service on bonds issued under this chapter, the proceeds from the sale of political subdivision bonds held by the board either shall be credited to the account from which financial assistance was made to the political subdivision, except that accrued interest shall be credited to the interest and sinking fund, or shall be deposited to the credit of the Texas Water Development Fund II, established within the state treasury pursuant to Section 49-d-8, Article III, Texas Constitution.  However, no such proceeds shall be deposited to the credit of the Texas Water Development Fund II unless the executive administrator certifies to the board that the transfer of such proceeds into the Texas Water Development Fund II will not cause the board, in the fiscal year the transfer is made, to direct the comptroller to transfer out of the first money coming into the state treasury during that fiscal year funds sufficient for the payment of principal of or interest on water development bonds, other than water development bonds issued for the purposes described in Subsection (e), Section 49-d-7, Article III, Texas Constitution, coming due in that fiscal year.
Amended by Acts 1997, 75th Leg., ch. 1010, Sec. 5.08.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.184. Filing Construction Contract

Sec. 17.184.  FILING CONSTRUCTION CONTRACT.  The political subdivision shall file with the board a certified copy of each construction contract it enters into for the construction of all or part of a project.  Each contract shall contain or have attached to it the specifications, plans, and details of all work included in the contract.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.185. Inspection of Projects

Sec. 17.185.  INSPECTION OF PROJECTS.
(a)  The board may inspect the construction of a project at any time to assure that  the contractor is substantially complying with the approved engineering plans and specifications of the project.
(b)  Inspection of a project by the board does not subject the state to any civil liability.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.09, eff. September 1, 2013.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.186. Alteration of Plans

Sec. 17.186.  ALTERATION OF PLANS.  After the executive administrator approves of engineering plans, a political subdivision may not make any substantial or material alteration in the plans unless the executive administrator authorizes the alteration in accordance with rules of the board.  For a waste water treatment plant or other facility required to have commission approval of the plans and specifications, the commission must give its approval before a substantial or material alteration is made in those plans.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.187. Certificate of Approval

Sec. 17.187.  CERTIFICATE OF APPROVAL.  The executive administrator may consider the following as grounds for refusal to give a certificate of approval for any construction contract:
(1)  failure to construct the project according to approved plans and specifications; or
(2)   failure to comply with any term of the contract.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.10, eff. September 1, 2013.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter E. Provisions Generally Applicable to Financial Assistance › Section 17.188. Obtaining Financial Assistance

Sec. 17.188.  OBTAINING FINANCIAL ASSISTANCE.  (a)  To obtain financial assistance under this chapter, a political subdivision may authorize and issue revenue bonds for the purpose of constructing projects and sell those bonds to the board in amounts as determined by the governing body of the political subdivision and approved by the board.
(b)  Notwithstanding the provisions of any general or special law or charter provisions to the contrary, a political subdivision may authorize, issue, and sell its revenue bonds as provided by this section and create any encumbrance in connection with those bonds by a majority vote of the governing body of the political subdivision without the necessity of an election.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 2001, 77th Leg., ch. 1420, Sec. 8.409, eff. Sept. 1, 2001.