Sec. 11003.259. CHARGES FOR DISTRICT SERVICES. (a) If district bonds payable wholly from revenue are issued, the board shall set and revise the rates of compensation for water sold and services provided by the district. The rates must be sufficient to:
(1) pay the expense of operating and maintaining district facilities;
(2) pay the principal of and interest on the bonds when due; and
(3) maintain the reserve fund and other funds as provided in the resolution authorizing the bonds.
(b) If bonds payable partly from revenue are issued, the board shall set and revise the rate of compensation for water sold and any other services provided by the district. The rate must be sufficient to ensure compliance with the resolution authorizing the bonds or the trust indenture securing the bonds.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.07, eff. April 1, 2015.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle X - Districts With Combined Powers
Chapter 11003 - Matador Water District
Section 11003.251. Authority to Issue Bonds
Section 11003.252. Form of Bonds
Section 11003.254. Election for Bonds Payable From Ad Valorem Taxes
Section 11003.255. Bonds Secured by Revenue; Additional Bonds
Section 11003.256. Bonds Payable From Ad Valorem Taxes
Section 11003.257. Additional Security
Section 11003.258. Trust Indenture
Section 11003.259. Charges for District Services
Section 11003.260. Use of Bond Proceeds
Section 11003.261. Appointment of Receiver
Section 11003.262. Refunding Bonds
Section 11003.263. Limitation on Rights of Bondholders
Section 11003.264. Bonds Exempt From Taxation
Section 11003.265. Detachment of District Territory After Issuance of Bonds