Sec. 58.175. REVENUE FOR PAYMENT OF MORTGAGE. (a) The board may determine conclusively by resolution whether the mortgage or encumbrance represents all or part of the cost of the acquired property and constitutes a purchase money lien on the property.
(b) The board may contract to use and pledge its revenue derived solely from the sale of water and services supplied through the acquired properties for the payment of a purchase money lien.
(c) The board also may use revenue from taxation or from the issuance and sale of bonds to pay all or part of the amount due under the encumbrance if a majority of the electors of the district voting at an election on this proposition approve its use.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 58 - Irrigation Districts
Subchapter D. Powers and Duties
Section 58.121. Purposes of District
Section 58.122. Powers of District
Section 58.125. Construction of Improvements
Section 58.126. Purchase of Machinery and Supplies
Section 58.127. Adopting Rules
Section 58.128. Effect of Rules
Section 58.129. Publication of Rules
Section 58.130. Effective Date of Rules
Section 58.133. Constructing Bridges and Culverts Across and Over County and Public Roads
Section 58.136. Power to Contract
Section 58.150. Transactions in District Names Under Joint Ownership and Construction Contract
Section 58.154. Construction Charges Under a Contract With the United States
Section 58.155. Election to Approve a Contract With the United States
Section 58.156. Conveying Property to the United States
Section 58.157. Consent of United States to Alter District's Boundaries
Section 58.158. Taxes Levied by District Under Contract With the United States
Section 58.159. Assessments for Contracts With the United States
Section 58.160. Duration of Annual Levies for Contracts With the United States
Section 58.161. Superiority of Lien to Secure Contract With the United States
Section 58.163. Expense of Procuring Cooperation and Contributions From Other Agencies
Section 58.164. Authority of Contributor
Section 58.165. Issuance of Bonds by Contributor
Section 58.166. Annual Tax by Contributor
Section 58.167. Contributions From Unappropriated or Available Funds of Contributor
Section 58.168. Liability on Contracts of Acquired Irrigation System
Section 58.170. Covenants and Agreements Included in Lease
Section 58.171. Revenue for Payment of Lease Rental
Section 58.172. Receiver for Leased Irrigation System
Section 58.173. Joint Lease by Two or More Districts
Section 58.174. Authority to Acquire Irrigation System Subject to Mortgage
Section 58.175. Revenue for Payment of Mortgage
Section 58.176. Election to Approve Revenue for Payment of Mortgage
Section 58.177. Joint Acquisition of Mortgaged System by Two or More Districts
Section 58.178. Authority to Lease Facilities to Water Customers
Section 58.180. Amendments to Water Rights
Section 58.181. Suit to Protect Water Rights
Section 58.182. Transfer of Water Right
Section 58.183. Selling Waterpower Privileges
Section 58.184. Selling Surplus Water
Section 58.185. Pumping Water to Another District
Section 58.186. Obtaining Topographic Maps and Data
Section 58.190. Sale of Property Not Acquired to Carry Out the Plans of the District