Texas Utilities Code
§ 163.089 — PUBLIC SECURITIES
UT § 163.089Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 163. JOINT POWERS AGENCIES · Art. C-1. ALTERNATE GOVERNANCE FOR CERTAIN MUNICIPAL POWER AGENCIES
Statute text
View on source(a)It is a public purpose for a public entity that has participated in the creation of an agency to pay costs of planning, acquisition, construction, ownership, operation, and maintenance of electric facilities.
(b)A public entity may issue public securities, as defined by Section 1201.002(2), Government Code, including bonds, notes, or other forms of indebtedness, in the principal amount approved by the governing body of the public entity, for the purpose of financing electric facilities or improvements to electric facilities to be owned or operated by the agency or otherwise in furtherance of a purpose described by this section.
(c)A public entity and an agency may agree in a contract, or by other official action of the public entity and agency, to terms and conditions governing the use by the agency of the proceeds of the public securities issued by a public entity for a purpose described by this section.
(d)A contract or other official action described by Subsection (c) may include provisions with respect to, and conclusively establish sufficient consideration for, the use of the proceeds. The consideration may include the right to:
(1)use the financed facilities or portions of the facilities;
(2)receive output from the financed facilities; or
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Legislative history
Added by Acts 2015, 84th Leg., R.S., Ch. 1162 (S.B. 776), Sec. 3, eff. September 1, 2015.