Texas Water Code

§ 20.021 — AUTHORITY EXPENSES

WA § 20.021Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 20. TEXAS WATER RESOURCES FINANCE AUTHORITY · Art. B. ADMINISTRATIVE PROVISIONS

Statute text

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(a)Expenses incurred by the authority under this Act shall be paid solely from revenues or funds provided or to be provided under this chapter.

(b)This chapter may not be construed to authorize the authority to incur any indebtedness or liability on behalf of or payable by the state.

(c)The authority may not accept and is not entitled to receive any money appropriated by the state.

(d)The board shall use all available sources of revenue and income to pay expenses of operation and maintenance of the authority, to pay the premium, principal of and interest on bonds, and to create and maintain any reserves or funds provided by resolutions authorizing the issuance of bonds.

Legislative history

Added by Acts 1987, 70th Leg., ch. 728, Sec. 1, eff. June 20, 1987.