Texas Water Code

§ 17.0791 — TRANSFERS TO ECONOMICALLY DISTRESSED AREAS INTEREST AND SINKING FUND

WA § 17.0791Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 17. PUBLIC FUNDING · Art. C. FUNDING PROVISIONS

Statute text

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(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;

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Legislative history

Added by Acts 1989, 71st Leg., ch. 624, Sec. 2.17.