reglab/statecodes huggingface dataset:
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 17.189. Considerations for Certain Financial Assistance

Sec. 17.189.  CONSIDERATIONS FOR CERTAIN FINANCIAL ASSISTANCE.  (a)  If financial assistance is provided under Subchapter F, I, or K of this chapter, any treatment works to be financed under the application must consider cost-effective innovative, nonconventional methods of treatment such as rock reed, root zone, ponding, irrigation, or other methods that may have been developed by the National Aeronautics and Space Administration or the Tennessee Valley Authority.
(b)  Before granting an application for financial assistance under Subchapter F, I, or K of this chapter that includes financing for treatment works, the board must find that any treatment works to be financed under the application will consider cost-effective innovative, nonconventional methods of treatment such as rock reed, root zone, ponding, irrigation, or other methods that may have been developed by the National Aeronautics and Space Administration or the Tennessee Valley Authority.
Added by Acts 1989, 71st Leg., ch. 624, Sec. 2.19.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.271. Purpose

Sec. 17.271.  PURPOSE.  The purpose of this subchapter is to provide for making loans of water quality enhancement funds authorized by Article III, Sections 49-d-1, 49-d-2, 49-d-6, and 49-d-7, of the Texas Constitution to political subdivisions of the state for the construction of treatment works.
Amended by Acts 1977, 65th Leg., p. 2207, ch. 870, Sec. 1, eff. Sept. 1, 1977;  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. 1062, Sec. 5.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.272. Financial Assistance

Sec. 17.272.  FINANCIAL ASSISTANCE.  The board may use water quality enhancement funds to provide financial assistance to political subdivisions for purposes of water quality enhancement.
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 F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.273. Authority of Political Subdivision

Sec. 17.273.  AUTHORITY OF POLITICAL SUBDIVISION.  A political subdivision may apply to the board for financial assistance and may use water quality enhancement funds for construction of treatment works in the manner provided in 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 F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.274. Application for Assistance

Sec. 17.274.  APPLICATION FOR ASSISTANCE.  (a)  In an application to the board for financial assistance for water quality enhancement purposes, 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 treatment works for which the financial assistance will be used;
(4)  the estimated total cost of construction of the treatment works;
(5)  the amount of state financial assistance requested;
(6)  the method for obtaining the financial assistance, whether by purchase of bonds or purchase of other obligations of the political subdivision;
(7)  the plan for repaying the financial assistance;
(8)  the water conservation plan required by Section 16.4021; and
(9)  any other information the board requires.
(b)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(8), eff. September 1, 2019.
(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 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. 13, eff. September 1, 2019.
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(8), eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.275. Considerations in Passing on Application

Sec. 17.275.  CONSIDERATIONS IN PASSING ON APPLICATION.  In passing on an application from a political subdivision for financial assistance for water quality enhancement purposes, the board shall consider:
(1)  the water quality needs of the waters into which effluent from the treatment works will be discharged, the benefit of the treatment works to such water quality needs, the relationship of the treatment works to the overall, statewide water quality needs;  and the relationship of the treatment works to water quality planning for the state;
(2)  the availability of revenue to the political subdivision, from all sources, for the ultimate repayment of the cost of the treatment works, including interest;  and
(3)  whether the political subdivision has been designated, pursuant to Section 26.082 of this code, to provide a regional system to serve all or part of the waste disposal needs of a defined area, the development of such systems being the declared policy of the legislature.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1993, 73rd Leg., ch. 477, Sec. 12, eff. Aug. 30, 1993.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.277. Approval of Application

Sec. 17.277.  APPROVAL OF APPLICATION.  (a)  The board by resolution may approve an application if, after considering the factors listed in Section 17.275 of this code and any other relevant factors, the board finds that the public interest will benefit from state assistance in the financing of the treatment works.
(b)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
(b-1)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
(d)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
(e)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
(f)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1993, 73rd Leg., ch. 477, Sec. 14, eff. Aug. 30, 1993;  Acts 2003, 78th Leg., ch. 688, Sec. 4, eff. June 20, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(9), eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.278. Findings Regarding Permits

Sec. 17.278.  FINDINGS REGARDING PERMITS.  If an application includes a proposal for a wastewater treatment plant, the board may not deliver funds for the wastewater treatment plant until the applicant has obtained a permit for the construction and operation of the plant and approval of the plans and specifications for the plant from the commission.  If an application includes a proposal for a wastewater treatment plant that is located outside the jurisdiction of this state and that is not subject to the permitting authority of the commission, the board may not deliver funds for the wastewater treatment plant until after the board reviews the plans and specifications in coordination with the commission and finds that the wastewater treatment plant is capable of producing effluent that will meet federal and Texas-approved water quality standards and if effluent produced will result in water being available for use in or for the benefit of Texas.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1997, 75th Leg., ch. 1010, Sec. 5.09, eff. Sept. 1, 1997.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter F. Financial Assistance for Water Quality Enhancement Purposes › Section 17.279. Limitation on Use of Funds

Sec. 17.279.  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 treatment works 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 G. Financial Assistance for Flood Control › Section 17.771. Purpose

Sec. 17.771.  PURPOSE.  The purpose of this subchapter is to provide for making loans of flood control funds authorized by Article III, Sections 49-d-2, 49-d-6, and 49-d-7, of the Texas Constitution, to political subdivisions of the state for the development of floodplain management plans and for structural and nonstructural flood control projects.
Added by Acts 1985, 69th Leg., ch. 133, Sec. 2.21.  Amended by 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. 1062, Sec. 5.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter G. Financial Assistance for Flood Control › Section 17.772. Financial Assistance

Sec. 17.772.  FINANCIAL ASSISTANCE.  The board may use flood control funds to provide financial assistance to political subdivisions for purposes of structural and nonstructural flood control and the development of floodplain management 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 G. Financial Assistance for Flood Control › Section 17.773. Application for Assistance

Sec. 17.773.  APPLICATION FOR ASSISTANCE.  In an application to the board for financial assistance for flood control purposes, 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 flood control measures for which the financial assistance will be used;
(4)  the estimated total cost of the measures;
(5)  the amount of state financial assistance requested;
(6)  the method for obtaining the financial assistance, whether by purchase of bonds or purchase of other obligations of the political subdivision;
(7)  the plan for repaying the financial assistance;  and
(8)  any other information the board requires.
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 G. Financial Assistance for Flood Control › Section 17.774. Considerations in Passing on Application

Sec. 17.774.  CONSIDERATIONS IN PASSING ON APPLICATION.  In passing on an application from a political subdivision for financial assistance for flood control purposes, the board shall consider:
(1)  the needs of the area to be served by the project and the benefit of the project to the area in relation to the needs of other areas requiring state assistance in any manner and the benefits of those projects to the other areas;
(2)  the availability of revenue to the political subdivision, from all sources, for the ultimate repayment of the cost of the project, including interest;
(3)  the capacity of the watershed to accommodate stormwater runoff;
(4)  the impact of the project on watershed capacity along the entire watershed and the degree to which that capacity was considered in planning the project;
(5)  whether the project will increase or decrease the volume or rate of stormwater runoff into any channel in the watershed;
(6)  the effect of the project on surface water elevations within the watershed and any downstream watershed;
(7)  the relationship of the project to any floodplain management plan for the watershed;  and
(8)  whether adequate consideration was given to the effects of the project with regard to erosion and sediment control.
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 G. Financial Assistance for Flood Control › Section 17.775. Action on Application

Sec. 17.775.  ACTION ON APPLICATION.  (a)  After an application is received for financial assistance for flood control purposes, the executive administrator shall submit the application to the board together with comments and recommendations concerning the best method of making financial assistance available.
(b)  The board may grant the application in whole or part or may deny the application.
(c)  The board has the sole responsibility and authority for selecting the political subdivisions to whom financial assistance may be provided and the amount of any such assistance.
Amended by Acts 1987, 70th Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1987;  Acts 1991, 72nd Leg., ch. 516, Sec. 7, eff. Sept. 1, 1991.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.12, eff. September 1, 2013.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter G. Financial Assistance for Flood Control › Section 17.776. Approval of Application

Sec. 17.776.  APPROVAL OF APPLICATION.  The board by resolution may approve an application if, after considering the factors listed in Section 17.774 of this code and other relevant information, the board finds:
(1)  that the public interest requires state participation in the project;
(2)  that in its opinion the taxes or revenues pledged by the political subdivision will be sufficient to meet all obligations assumed by the political subdivision;
(3)  if the project would increase the volume or rate of stormwater runoff, that adequate consideration was given to alternative approaches that would decrease or hold constant the volume or rate of stormwater runoff;
(4)  that the project proposed in the application will not increase the peak water surface elevation of any portion of any stream within the watershed or within any downstream watershed;  and
(5)  that adequate consideration was given to the effects of the project with regard to erosion and sediment control.
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 I. Revenue Bond Program › Section 17.851. Purpose

Sec. 17.851.  PURPOSE.  The purpose of this subchapter is to provide for the benefit of the public additional methods for financing the conservation and development of water resources of this state including an additional method for making financial assistance available to participants in the conservation and development of water resources of this state.  This financial assistance is made available on terms and conditions prescribed by this subchapter, and it is found and determined that this subchapter is in furtherance of a public purpose.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.852. Definitions

Sec. 17.852.  DEFINITIONS.  In this subchapter:
(1)  "Acquired obligations" means obligations of participants acquired under this subchapter.
(2)  "Acquired obligations resolution" means the resolution, order, ordinance, or similar instrument duly adopted or passed by the governing body of a participant providing for payments of principal and interest to be made by the participant to the board and includes sufficient money to pay the principal of, premium on, if any, and interest on the acquired obligations and to maintain the funds established or required to be established by the acquired obligations resolution.
(3)  "Fund" means the Texas water resources fund.
(4)  "Participant" means a political subdivision or agency of the state or a nonprofit corporation organized pursuant to Chapter 67, that is authorized to finance projects.
(5)  "Project" includes water supply projects, treatment works, and flood projects, as defined by Section 15.531 or 16.451.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.  Amended by Acts 1999, 76th Leg., ch. 62, Sec. 18.60, eff. Sept. 1, 1999.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 4.01, eff. June 13, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.853. Texas Water Resources Fund

Sec. 17.853.  TEXAS WATER RESOURCES FUND.  (a)  The Texas water resources fund is in the State Treasury.
(b)  The fund shall be administered by the board in accordance with this subchapter, and the board shall create accounts within the fund that will facilitate the conservation of water resources and the payment of revenue bonds issued for the conservation of water resources.
(c)  The board may use the fund only:
(1)  to provide state matching funds for federal funds provided to the state water pollution control revolving fund or to any additional state revolving fund created under Subchapter J, Chapter 15;
(2)  to provide financial assistance from the proceeds of taxable bond issues to water supply corporations organized under Chapter 67, and other participants;
(3)  to provide financial assistance to participants for the construction of water supply projects and treatment works;
(4)  to provide financial assistance for an interim construction period to participants for projects for which the board will provide long-term financing through the water development fund;
(5)  to provide financial assistance for water supply and sewer service projects in economically distressed areas as provided by Subchapter K, Chapter 17, to the extent the board can make that assistance without adversely affecting the current or future integrity of the fund or of any other financial assistance program of the board;
(6)  to provide funds to the water infrastructure fund created under Section 15.973;
(7)  to provide funds to the state water implementation revenue fund for Texas;
(8)  to provide funds to the flood infrastructure fund created under Section 15.533; and
(9)  to provide funds to the Texas infrastructure resiliency fund created under Section 16.452.
(d)  Money in the fund may be invested by the board as permitted by this subchapter, other applicable law, or as provided by resolutions authorizing the issuance of revenue bonds.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.  Amended by Acts 1989, 71st Leg., ch. 624, Sec. 2.20;  Acts 1991, 72nd Leg., ch. 516, Sec. 8, eff. Sept. 1, 1991;  Acts 1993, 73rd Leg., ch. 184, Sec. 4, eff. May 19, 1993;  Acts 1999, 76th Leg., ch. 62, Sec. 18.61, eff. Sept. 1, 1999;  Acts 2001, 77th Leg., ch. 966, Sec. 4.18, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 1275, Sec. 3(46), eff. Sept. 1, 2003.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.13, eff. November 5, 2013.
Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 4.02, eff. June 13, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.854. Methods of Financial Assistance

Sec. 17.854.  METHODS OF FINANCIAL ASSISTANCE.  The board may use the fund to acquire obligations of political subdivisions in accordance with the purposes stated in Section 17.853 of this code.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.855. Financial Assistance by Acquisition of Acquired Obligations

Sec. 17.855.  FINANCIAL ASSISTANCE BY ACQUISITION OF ACQUIRED OBLIGATIONS.  (a)  In an application to the board for financial assistance through the acquisition of acquired obligations, the participant shall include:
(1)  the name of the participant and its principal officer or officers;
(2)  a citation of the law under which the participant was created, operates, and proposes to issue its obligations to be acquired by the board;
(3)  the total cost of the project;
(4)  the amount of state financial assistance requested;
(5)  the plan for paying the principal of and interest on its obligations to be acquired by the board;
(6)  the water conservation plan required by Section 16.4021; and
(7)  any other information the board requires in order to perform its duties and to protect the public interest.
(b)  The board may not accept an application for financial assistance unless it is submitted in writing and subscribed to in affidavit form by an official representative of the participant.  The board shall prescribe the affidavit form in its rules.
(c)  The board may require additional factual material from an applicant.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 14, eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.856. Consideration in Passing on Application for Financial Assistance

Sec. 17.856.  CONSIDERATION IN PASSING ON APPLICATION FOR FINANCIAL ASSISTANCE.  In passing on an application for financial assistance for a participant, the board shall consider:
(1)  the needs of the area to be served by the project;
(2)  the availability to the participant of revenues, taxes, or a combination of revenues and taxes for payment of the acquired obligations of the participant;  and
(3)  the costs to be incurred in the development, construction, and operation of the project.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.857. Approval of Application

Sec. 17.857.  APPROVAL OF APPLICATION.  (a)  The board by resolution may approve an application if the board finds:
(1)  that the public interest requires state participation in the project;  and
(2)  that, in its opinion, the revenue, taxes, or combination of revenue and taxes pledged by the participant will be sufficient to pay the principal of and interest on the acquired obligations until the acquired obligations are fully paid.
(b)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(b-1)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(d)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.  Amended by Acts 2003, 78th Leg., ch. 688, Sec. 5, eff. June 20, 2003.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter I. Revenue Bond Program › Section 17.858. Acquisition of Acquired Obligations

Sec. 17.858.  ACQUISITION OF ACQUIRED OBLIGATIONS.  (a)  If the board approves an application for financial assistance under this subchapter and is to purchase acquired obligations from a participant, the acquired obligations resolution must:
(1)  provide for development, construction, and operation of the project by the participant or a person contracting with the participant;  and
(2)  provide that the participant shall make sufficient payments to the board to service the acquired obligations from:
(A)  all or part of the revenues from the ownership or operation of the project;
(B)  all or part of any other revenues or funds that may lawfully be pledged by the participant;
(C)  taxes levied by the participant or other users of the project;  or
(D)  any combination of Paragraphs (A), (B), and (C) of this subdivision.
(b)  The acquired obligations purchased by the board pursuant to this subchapter shall bear rates of interest and mature in amounts and at times as may be reasonably expected to provide funds for orderly payment of the revenue bonds issued by the board.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.871. Definitions

Sec. 17.871.  DEFINITIONS.  In this subchapter:
(1)  "Bonds" means Texas agricultural water conservation bonds authorized by Article III, Section 50-d, of the Texas Constitution and issued as bonds, notes, or other evidences of indebtedness in accordance with this subchapter.
(2)  Repealed by Acts 2003, 78th Leg., ch. 200, Sec. 19(w)(2) and Acts 2003, 78th Leg., ch. 352, Sec. 23(2).
(3)  "Eligible lending institution" means a financial institution that makes commercial loans, is either a depository of state funds or an institution of the Farm Credit System headquartered in this state, agrees to participate in a linked deposit program established under Section 17.905 and to provide collateral equal to the amount of linked deposits placed with it, and meets any other requirements established by board rule.
(4)  "Fund" means the agricultural water conservation fund authorized by Section 50-d, Article III, of the Texas Constitution.
(5)  "Person" means an individual, corporation, partnership, association, or other legal entity that is not a political subdivision.
(6)  "Political subdivision" includes a district or authority created under Section 52, Article III, or Section 59, Article XVI, of the Texas Constitution, a municipality, a county, an institution of higher education as defined by Section 61.003, Education Code, any interstate compact commission to which the state is a party, and any nonprofit water supply corporation created and operating under Chapter 67.
(7)  Repealed by Acts 2003, 78th Leg., ch. 200, Sec. 19(w)(2) and Acts 2003, 78th Leg., ch. 352, Sec. 23(2).
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 966, Sec. 4.19, eff. Sept. 1, 2001;  Acts 2001, 77th Leg., ch. 1234, Sec. 30, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 200, Sec. 19(e), 19(w)(2), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 5, 23(2), eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.872. Issuance of Bonds

Sec. 17.872.  ISSUANCE OF BONDS.  The board by resolution may provide for the issuance of negotiable bonds, to be known as Texas agricultural water conservation bonds, in an aggregate principal amount not to exceed $200 million pursuant to Article III, Section 50-d, of the Texas Constitution.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.873. Conditions for Issuance of Bonds

Sec. 17.873.  CONDITIONS FOR ISSUANCE OF BONDS.  (a)  Bonds may be issued as various series and issues and shall be on a parity.
(b)  Bonds may mature serially or otherwise not later than 50 years after the date on which they are issued.
(c)  The bonds may bear no interest or interest at a rate or rates determined in accordance with law.
(d)  Rates of interest on bonds may be fixed, variable, floating, adjustable, or otherwise, determined by the board or determined pursuant to any contractual arrangements approved by the board.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.874. Periodic Determination of Interest

Sec. 17.874.  PERIODIC DETERMINATION OF INTEREST.  A bond resolution or order may provide for payment of interest at any time or the periodic determination of interest rates or interest rate periods.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.875. Persons Designated to Act as Agents of Board

Sec. 17.875.  PERSONS DESIGNATED TO ACT AS AGENTS OF BOARD.  (a)  A bond resolution or order may delegate authority to one or more officers, employees, or agents designated by the board to act on behalf of the board during the time bonds are outstanding to:
(1)  fix dates, prices, interest rates, and interest payment periods;  and
(2)  perform other procedures specified in the resolution.
(b)  The person designated by the board may adjust the interest on bonds as necessary to permit the bonds to be sold or resold at par in conjunction with secondary market transactions.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.876. Security Qualifications

Sec. 17.876.  SECURITY QUALIFICATIONS.  The board may take any action necessary to qualify the bonds for offer and sale under the securities laws and regulations of the United States, this state, and other states.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.877. Investment Securities

Sec. 17.877.  INVESTMENT SECURITIES.  The bonds and any interest coupons are investment securities under Chapter 8, Business & Commerce Code, and may be issued registrable as to principal or as to both principal and interest or may be made redeemable before maturity at the option of the board or may contain a mandatory redemption provision.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.878. Form of Bonds

Sec. 17.878.  FORM OF BONDS.  (a)  The bonds may be issued in the form, denominations, and manner and under the terms, conditions, and details as provided by the board in the resolution or order authorizing their issuance.
(b)  The bonds shall be signed and executed as provided by the board's resolution or order authorizing the issuance of the bonds.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.879. Funds

Sec. 17.879.  FUNDS.  (a)  The bond proceeds shall be deposited in the state treasury to the credit of the fund.
(b)  In the resolution or order authorizing issuance of bonds, the board may make additional covenants with respect to the bonds and may provide for the flow of funds and the establishment, maintenance, and investment of funds.
(c)  By rule or in the resolution or order authorizing issuance of bonds or other resolution or order of the board, the board may establish an interest and sinking fund and may establish accounts in the funds, including an interest and sinking account, and may transfer money among the funds and accounts.
(d)  The board may invest and reinvest money in the fund, the interest and sinking fund, and any account therein in any obligations or securities as provided by bond resolutions, orders of the board, and Section 404.024, Government Code.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2003, 78th Leg., ch. 200, Sec. 19(f), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 6, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.880. Sale of Securities

Sec. 17.880.  SALE OF SECURITIES.  (a)  Loans, bonds of political subdivisions, and other obligations owned by the state and deposited in the fund or in the interest and sinking fund are considered to be securities under this subchapter.
(b)  The board may sell securities owned in the interest and sinking fund or in any account in the fund at the governing market price.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2003, 78th Leg., ch. 200, Sec. 19(g), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 7, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.881. Sale of Obligations to Texas Water Resources Finance Authority

Sec. 17.881.  SALE OF OBLIGATIONS TO TEXAS WATER RESOURCES FINANCE AUTHORITY.  (a)  Pursuant to Section 17.0871 and notwithstanding any other provision of this chapter, the board may sell to the Texas Water Resources Finance Authority any loans or bonds of borrower districts or lender districts purchased with money in the fund and may apply the proceeds of the sale in the manner provided by Section 17.0871.
(b)  The board shall sell the loans or bonds of political subdivisions at the price and under the terms that it determines to be reasonable.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2003, 78th Leg., ch. 200, Sec. 19(h), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 8, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.882. Resolutions, Orders, Etc

Sec. 17.882.  RESOLUTIONS, ORDERS, ETC.  (a)  The orders or resolutions of the board that provide for issuing bonds may include other provisions and covenants that the board determines necessary.
(b)  The board may adopt and have executed any other proceedings, agreements, or trust agreements or instruments necessary and convenient in the issuance of bonds.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.883. Bond Review Board

Sec. 17.883.  BOND REVIEW BOARD.  Bonds may not be issued under this subchapter unless the issuance of the bonds has been reviewed and approved by the bond review board.  Prior to issuance of bonds, the board shall estimate demand for conservation programs or projects based on a survey of eligible participants in the program.  A summary of this information shall be furnished to the bond review board.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2003, 78th Leg., ch. 200, Sec. 19(i), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 9, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.884. Approval of Attorney General

Sec. 17.884.  APPROVAL OF ATTORNEY GENERAL.  The proceedings relating to the bonds issued under this subchapter are subject to review and approval by the attorney general in the same manner and with the same effects as provided by Chapter 1371, Government Code.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.410, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.885. Bonds Incontestable

Sec. 17.885.  BONDS INCONTESTABLE.  After approval of the proceedings relating to bonds issued under this subchapter by the attorney general, registration of the proceedings by the comptroller, and delivery to the purchasers, the bonds are incontestable and constitute general obligations of the state.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.886. Payment and Transfers by Comptroller

Sec. 17.886.  PAYMENT AND TRANSFERS BY COMPTROLLER.  (a)  The comptroller shall pay the principal of the bonds as they mature and the interest on the bonds as it becomes due.
(b)  If the money and securities in the interest and sinking fund are insufficient to pay the interest that is due and the principal maturing on the bonds during the fiscal year, 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 of and interest on the bonds during the fiscal year.
(c)  The comptroller shall make the transfers required by the board's bond resolution or order and this subchapter.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1423, Sec. 20.07, eff. Sept. 1, 1997.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.887. Refunding Bonds

Sec. 17.887.  REFUNDING BONDS.  (a)  The board may provide by resolution for the issuance of refunding bonds to refund outstanding bonds issued under this chapter and accrued interest on those bonds.
(b)  The board may sell the refunding bonds and use the proceeds to retire the outstanding bonds issued under this chapter, exchange the refunding bonds for the outstanding bonds, or refund the bonds in the manner provided by any other applicable statute, including Chapter 1207, Government Code.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.411, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.888. Mutilated, Lost, or Destroyed Bonds

Sec. 17.888.  MUTILATED, LOST, OR DESTROYED BONDS.  The board may provide for the replacement of mutilated, lost, or destroyed bonds.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.889. Eligible Security

Sec. 17.889.  ELIGIBLE SECURITY.  The bonds are eligible to secure deposits of public funds of the state and cities, counties, school districts, and other political subdivisions of the state.  The bonds are lawful and sufficient security for deposits to the extent of their face value.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.890. Legal Investments

Sec. 17.890.  LEGAL INVESTMENTS.  The bonds are legal and authorized investments for:
(1)  banks;
(2)  savings banks;
(3)  trust companies;
(4)  savings and loan associations;
(5)  insurance companies;
(6)  fiduciaries;
(7)  trustees;
(8)  guardians;  and
(9)  sinking funds of cities, counties, school districts, and other political subdivisions of the state and other public funds of the state and its agencies, including the permanent school fund.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.891. Tax Exempt Bonds

Sec. 17.891.  TAX EXEMPT BONDS.  Since the board is performing an essential governmental function in the exercise of the powers conferred on it by this chapter, the bonds issued under this subchapter and the interest and income from the bonds, including any profit made on the sale of bonds, and all fees, charges, gifts, grants, revenues, receipts, and other money received or pledged to pay or secure the payment of the bonds are free from taxation and assessments of every kind by this state and any city, county, district, authority, or other political subdivision of this state.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.892. Enforcement by Mandamus

Sec. 17.892.  ENFORCEMENT BY MANDAMUS.  Payment of the bonds and performance of official duties prescribed by Article III, Section 50-d, of the Texas Constitution and this subchapter may be enforced in a court of competent jurisdiction by mandamus or other appropriate proceedings.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.893. Subchapter Cumulative of Other Laws

Sec. 17.893.  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 powers granted to the governing body of an issuer with regard to issuance of obligations under Chapter 1371, Government Code.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.412, eff. Sept. 1, 2001.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.894. Bond Enhancement Agreements; Payment of Expenses

Sec. 17.894.  BOND ENHANCEMENT AGREEMENTS;  PAYMENT OF EXPENSES.  (a)  The board at any time and from time to time may enter into one or more bond enhancement agreements that the board determines to be necessary or appropriate to place the obligation of the board, as represented by the bonds, in whole or in part, on the interest rate, currency, cash flow, or other basis desired by the board.  A bond enhancement agreement is an agreement for professional services and shall contain the terms and conditions and be for the period that the board approves.
(b)  The fees and expenses of the board in connection with the issuance of the bonds and the providing of financial assistance to political subdivisions may be paid from money in the fund, provided that any payments due from the board under a bond enhancement agreement, other than fees and expenses, that relate to the payment of debt service on the bonds constitute payments of principal of and interest on the bonds.
(c)  Bond enhancement agreements may include, on terms and conditions approved by the board, interest rate swap agreements;  currency swap agreements;  forward payment conversion agreements;  agreements providing for payments based on levels of or changes in interest rates or currency exchange rates;  agreements to exchange cash flows or a series of payments;  agreements, including options, puts, or calls, to hedge payment, currency, rate, spread, or other exposure;  or other agreements that further enhance the marketability, security, or creditworthiness of water financial assistance bonds.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 2001, 77th Leg., ch. 1234, Sec. 31, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 200, Sec. 19(j), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 10, eff. Sept. 1, 2003.
2023 Texas Statutes › Water Code › Title 2 - Water Administration › Subtitle C - Water Development › Chapter 17 - Public Funding › Subchapter J. Agricultural Water Conservation Bond Program › Section 17.895. Sources of Assets

Sec. 17.895.  SOURCES OF ASSETS.  The fund is composed of:
(1)  money and assets, including bond proceeds, attributable to the bonds;
(2)  investment income earned on money on deposit in the fund and depository interest earned on money on deposit in the state treasury;
(3)  money appropriated by the legislature;
(4)  repayments of principal and interest on loans made under this subchapter;
(5)  administrative fees charged by the board under the bond program;
(6) money disbursed to the fund from the state water implementation fund for Texas as authorized by Section 15.434; and
(7)  any other funds, regardless of their source, that the board directs be deposited to the credit of the fund.
Added by Acts 1989, 71st Leg., ch. 1103, Sec. 1, eff. Sept. 1, 1989.  Amended by Acts 1997, 75th Leg., ch. 1010, Sec. 4.09, eff. Sept. 1, 1997;  Acts 1999, 76th Leg., ch. 456, Sec. 7, eff. June 18, 1999;  Acts 1999, 76th Leg., ch. 979, Sec. 9, eff. June 18, 1999;  Acts 2001, 77th Leg., ch. 966, Sec. 4.20, eff. Sept. 1, 2001;  Acts 2003, 78th Leg., ch. 200, Sec. 19(k), eff. Sept. 1, 2003;  Acts 2003, 78th Leg., ch. 352, Sec. 11, eff. Sept. 1, 2003.
Amended by:
Acts 2013, 83rd Leg., R.S., Ch. 207 (H.B. 4), Sec. 2.14, eff. November 5, 2013.