Texas Statutes
Subchapter E. Storage Acquisition Program
Section 15.318. Price of Sale: Facilities Acquired Under Contracts With the United States

Sec. 15.318. PRICE OF SALE: FACILITIES ACQUIRED UNDER CONTRACTS WITH THE UNITED STATES. (a) The price of the sale or transfer of a state facility acquired on or subsequent to September 1, 1981, under a contract with the United States shall be the sum of the direct cost of acquisition, plus an amount of interest calculated by multiplying the lending rate in effect at the time of acquisition, by the amount of board money disbursed for the acquisition of the facility times the number of years and fraction of a year from the date or dates of disbursement of the money to the date or dates of sale or transfer, plus the board's cost of operating and maintaining the facility from the date of acquisition to the date of the sale or transfer of the facility, less any payments received by the board from the lease of the facility or the sale of water from it.
(b) If, in transferring any contract, the board remains in any way directly, conditionally, or contingently liable for the performance of any part of the contract, then the transferee, in addition to the payments prescribed by Subsection (a) of this section, as applicable, shall pay to the board annually one-half of one percent of the remaining amount owed to the other party to the contract, and shall continue these payments until the board is fully released from the contract.
Added by Acts 1981, 67th Leg., 1st C.S., p. 102, ch. 12, Sec. 1, eff. Nov. 10, 1981.

Structure Texas Statutes

Texas Statutes

Water Code

Title 2 - Water Administration

Subtitle C - Water Development

Chapter 15 - Texas Water Assistance Program

Subchapter E. Storage Acquisition Program

Section 15.301. Fund Created

Section 15.302. Authorized Projects

Section 15.303. Joint Ventures

Section 15.304. Permits Required

Section 15.3041. Reservation and Appropriation for Bays and Estuaries and Instream Uses

Section 15.305. Storing Water

Section 15.306. Board Findings

Section 15.3061. Recommendations for Funding by Legislature

Section 15.307. Facilities Wanted by Political Subdivision

Section 15.308. Contracts: General Authority

Section 15.309. Specific Contracts Authorized

Section 15.310. Contracts: Facilities Acquired for a Term of Years

Section 15.311. Maintenance Contracts

Section 15.312. Recreational Facilities

Section 15.313. Board May Sell or Lease Projects

Section 15.314. Permit Required

Section 15.315. Contract Must Be Negotiated

Section 15.316. Reservoir Land

Section 15.317. Price of Sale

Section 15.318. Price of Sale: Facilities Acquired Under Contracts With the United States

Section 15.319. Costs Defined

Section 15.320. Lease Payments

Section 15.321. Sale or Lease: Condition Precedent

Section 15.322. Disposition of Proceeds

Section 15.323. Sale of Stored Water

Section 15.324. Sale Contract: Provisions, Limitations

Section 15.325. Emergency Releases of Water

Section 15.326. Preferences

Section 15.327. Lease of Land Prior to Project Construction

Section 15.328. Lease Contribution Equivalent to Taxes

Section 15.329. Inspection of Projects

Section 15.330. Alteration of Plans

Section 15.331. Certificate of Approval