Tex. Water Code § 17.0791 · Subchapter C. FUNDING PROVISIONS
TRANSFERS TO ECONOMICALLY DISTRESSED AREAS INTEREST AND SINKING FUND.
Text — Current through the 89th 2nd Called Legislative Session, 2025
(a) The board shall determine:
(1) the amount of interest coming due on all bonds outstanding dedicated pursuant to Section 17.0111 of this code;
(2) the amount of principal of those bonds maturing and becoming payable during the fiscal year; and
(3) the average annual principal and interest requirements on all outstanding bonds.
(b) The comptroller shall transfer to the economically distressed areas interest and sinking fund, after taking into account any money and securities on deposit in the economically distressed areas interest and sinking fund, an amount necessary to pay:
(1) all principal and interest maturing on the bonds dedicated pursuant to Section 17.0111 of this code during the fiscal year;
(2) all collection charges and exchanges on those bonds; and
(3) the money sufficient to establish and maintain an additional reserve equal to the average annual principal and interest requirements on all outstanding bonds.
Notes and commentary — not statutory text
History
Added by Acts 1989, 71st Leg., ch. 624, Sec. 2.17.
Source of truth
- Edition
- Current through the 89th 2nd Called Legislative Session, 2025
- Official file
- https://statutes.capitol.texas.gov/Docs/WA/htm/WA.17.htm
- Text hash
- sha256 6718ed5794422acc430c30ddb99a9e1370eb9c291d41fff7df8999e6d0441b38
- Composed by
- compose_tx.py 2026-10-05: the Legislative Council's chapter files read in document order; verify_tx.py's independent reading (lxml DOM walk) agrees character for character
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