Texas Utilities Code
§ 164.004 — INCREASE IN OWNERSHIP SHARES
UT § 164.004Title 4. DELIVERY OF UTILITY SERVICES · Part A. UTILITY CORPORATIONS AND OTHER PROVIDERS · Ch. 164. JOINT OWNERSHIP OF ELECTRIC FACILITIES BY PUBLIC ENTITIES
Statute text
View on source(a)An agreement under this chapter may provide for a political subdivision to increase its present or future ownership share of the electric utility facilities by installment purchase payments and for another political subdivision that is a party to the agreement to transfer, in consideration of those payments, any portion of its present or future ownership share of the facilities to the purchasing political subdivision.
(b)A payment made by a political subdivision to acquire an ownership interest is not treated as a maintenance and operating expense but is treated as a capital cost as if the political subdivision had issued bonds to construct or acquire the ownership interest, unless otherwise specified in the agreement.
Legislative history
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.