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Texas Constitution:Article III, Section 49-d-13: Difference between revisions
Texas Constitution:Article III, Section 49-d-13 (view source)
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'''(c) The Texas Water Development Board or that board's successor in function shall provide written notice to the Legislative Budget Board or that board's successor in function before issuing a bond pursuant to this section or entering into a related credit agreement that is payable from revenue deposited to the credit of the State Water Implementation Revenue Fund for Texas and shall provide a copy of the proposed bond or agreement to the Legislative Budget Board or that board's successor in function for approval. The proposed bond or agreement shall be considered to be approved unless the Legislative Budget Board or that board's successor in function issues a written disapproval not later than the 21st day after the date on which the staff of that board receives the submission.''' | '''(c) The Texas Water Development Board or that board's successor in function shall provide written notice to the Legislative Budget Board or that board's successor in function before issuing a bond pursuant to this section or entering into a related credit agreement that is payable from revenue deposited to the credit of the State Water Implementation Revenue Fund for Texas and shall provide a copy of the proposed bond or agreement to the Legislative Budget Board or that board's successor in function for approval. The proposed bond or agreement shall be considered to be approved unless the Legislative Budget Board or that board's successor in function issues a written disapproval not later than the 21st day after the date on which the staff of that board receives the submission.''' | ||
'''(d) The State Water Implementation Revenue Fund for Texas consists of: (1) money transferred or deposited to the credit of the fund by general law, including money from any source transferred or deposited to the credit of the fund at the discretion of the Texas Water Development Board or that board's successor in function as authorized by general law; (2) the proceeds of any fee or tax imposed by this | '''(d) The State Water Implementation Revenue Fund for Texas consists of: (1) money transferred or deposited to the credit of the fund by general law, including money from any source transferred or deposited to the credit of the fund at the discretion of the Texas Water Development Board or that board's successor in function as authorized by general law; (2) the proceeds of any fee or tax imposed by this State that by statute is dedicated for deposit to the credit of the fund; (3) any other revenue that the Legislature by statute dedicates for deposit to the credit of the fund; (4) investment earnings and interest earned on amounts credited to the fund; (5) the proceeds from the sale of bonds, including revenue bonds issued under this section by the Texas Water Development Board or that board's successor in function for the purpose of providing money for the fund; and (6) money disbursed to the fund from the State Water Implementation Fund for Texas as authorized by general law.''' | ||
'''(e) The Legislature by general law shall provide for the manner in which the assets of the State Water Implementation Revenue Fund for Texas may be used, subject to the limitations provided by this section. The Legislature by general law may provide for costs of investment of the State Water Implementation Revenue Fund for Texas to be paid from that fund.''' | '''(e) The Legislature by general law shall provide for the manner in which the assets of the State Water Implementation Revenue Fund for Texas may be used, subject to the limitations provided by this section. The Legislature by general law may provide for costs of investment of the State Water Implementation Revenue Fund for Texas to be paid from that fund.''' | ||