Texas Water Code
§ 15.474 — USE OF FUND
WA § 15.474Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 15. TEXAS WATER ASSISTANCE PROGRAM · Art. H. STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS
Statute text
View on source(a)Except as provided by Subsection (c), money in the fund may be used by the board only to provide financing or refinancing, under terms specified by the board, for an eligible project, as defined by Section 1373.001, Government Code, or for projects included in the state water plan that are authorized under Subchapter C-1, Q, or R of this chapter, Subchapter E or F, Chapter 16, or Subchapter J or L, Chapter 17, including water conservation or reuse projects designed to reduce the need for this state or political subdivisions of this state to develop additional water resources.
(b)Financing or refinancing of projects described by Subsection (a) may be provided by using money in the fund to make loans to eligible political subdivisions or to purchase bonds or other obligations of eligible political subdivisions bearing interest at a rate or rates determined by the board, including a rate or rates below prevailing market rates.
(c)The board may use money in the fund:
(1)as a source of revenue or security for:
(A)the payment of the principal of and interest on:
(i)revenue bonds issued by the board under this subchapter; or
…
Legislative history
Acts 2023, 88th Leg., R.S., Ch. 457 (S.B. 28), Sec. 5, eff. September 1, 2023. Acts 2025, 89th Leg., R.S., Ch. 494 (S.B. 1261), Sec. 3, eff. September 1, 2025.