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Chapter 95 H.B. No. 1224 1 AN ACT 2 relating to the purposes for which the assets of certain revolving 3 funds administered by the Texas Water Development Board may be 4 used. 5 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 6 SECTION 1. Subchapter J, Chapter 15, Water Code, is amended 7 by adding Section 15.6042 to read as follows: 8 Sec. 15.6042. CROSS-COLLATERALIZATION OF FUNDS. (a) In 9 this section, "state revolving fund bonds" means revenue bonds 10 issued by the board to provide funds for the revolving fund, the 11 safe drinking water revolving fund, or an additional state 12 revolving fund. 13 (b) Notwithstanding any other law to the contrary, the board 14 by resolution may approve the use of assets of the revolving fund, 15 the safe drinking water revolving fund, or an additional state 16 revolving fund as a source of revenue or security, or both revenue 17 and security, for the payment of the principal of and interest on 18 state revolving fund bonds. 19 SECTION 2. This Act takes effect immediately if it receives 20 a vote of two-thirds of all the members elected to each house, as 21 provided by Section 39, Article III, Texas Constitution. If this 22 Act does not receive the vote necessary for immediate effect, this 23 Act takes effect September 1, 2015.
Reference the current page of this Legislative Document.
Texas. Legislature. House of Representatives.84th Texas Legislature, Regular Session, House Bill 1224, Chapter 95,
legislative document,
May 23, 2015;
[Austin, Texas].
(https://texashistory.unt.edu/ark:/67531/metapth704240/m1/1/:
accessed April 28, 2024),
University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu;
crediting UNT Libraries Government Documents Department.