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Texas Statutes (Last Updated: January 4, 2014) |
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WATER CODE |
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Title 2. WATER ADMINISTRATION |
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Subtitle C. WATER DEVELOPMENT |
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Chapter 17. PUBLIC FUNDING |
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Subchapter L. WATER FINANCIAL ASSISTANCE BOND PROGRAM |
Sec. 17.957. STATE PARTICIPATION ACCOUNT
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(a) The Texas Water Development Fund II state participation account, referred to as the "state participation account," is an account established within the fund in the state treasury. Transfers shall be made from this account as provided by this subchapter.
(b) The state participation account is composed of:
(1) money and assets attributable to water financial assistance bonds designated by the board as issued for projects described in Section 16.131;
(2) money from the sale, transfer, or lease of a project described in Subdivision (1) that was acquired, constructed, reconstructed, developed, or enlarged with money from the state participation account;
(3) payments received under a bond enhancement agreement with respect to water financial assistance bonds designated by the board as issued for projects described in Section 16.131;
(4) investment income earned on money on deposit in the state participation account; and
(5) any other funds, regardless of their source, that the board directs be deposited to the credit of the state participation account.
(c) Money on deposit in the state participation account may be used by the board for projects described in Section 16.131 in the manner that the board determines necessary for the administration of the fund.