Sec. 11006.259. CHARGES FOR AUTHORITY SERVICES. (a) If authority bonds payable wholly from revenue are issued, the board shall set and from time to time revise the rates of compensation for water sold and services provided by the authority. The rates must be sufficient to:
(1) pay the expenses of operating and maintaining authority 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 from time to time revise the rate of compensation for water sold and any other services provided by the authority. The rate must be sufficient to ensure compliance with the resolution authorizing the bonds or the trust indenture securing the bonds.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.07, eff. April 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle X - Districts With Combined Powers
Chapter 11006 - South Texas Water Authority
Section 11006.251. Authority to Issue Bonds
Section 11006.252. Form of Bonds
Section 11006.254. Election for Bonds Payable From Ad Valorem Taxes
Section 11006.255. Bonds Secured by Revenue; Additional Bonds
Section 11006.256. Bonds Payable From Ad Valorem Taxes
Section 11006.257. Additional Security
Section 11006.258. Trust Indenture
Section 11006.259. Charges for Authority Services
Section 11006.260. Use of Bond Proceeds
Section 11006.261. Appointment of Receiver
Section 11006.262. Refunding Bonds
Section 11006.263. Limitation on Rights of Bondholders
Section 11006.264. Bonds Exempt From Taxation
Section 11006.265. Detachment of Authority Territory After Issuance of Bonds