Sec. 8506.154. RATES AND OTHER CHARGES. (a) The board shall establish and collect rates and other charges for the sale or use of water, water connections, power, electric energy, or other services sold, provided, or supplied by the authority.
(b) The rates and charges must be reasonable, nondiscriminatory, and sufficient to provide revenue adequate to:
(1) pay all expenses necessary to the operation and maintenance of the properties and facilities of the authority;
(2) pay the interest on and the principal of all bonds issued under this chapter or its predecessor statute when and as they become due and payable;
(3) pay all sinking fund or reserve fund payments agreed to be made with respect to bonds issued under this chapter or its predecessor statute and payable out of that revenue when and as they become due and payable; and
(4) fulfill the terms of any agreements made with the holders of bonds issued under this chapter or its predecessor statute or with any person in their behalf.
(c) The rates and charges may not exceed what may be necessary to fulfill the obligations imposed on the authority by this chapter.
Added by Acts 2015, 84th Leg., R.S., Ch. 855 (S.B. 1162), Sec. 1.05, eff. April 1, 2017.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle G - River Authorities
Chapter 8506 - Upper Colorado River Authority
Subchapter D. General Financial Provisions
Section 8506.151. Disbursement of Money
Section 8506.152. Accounts, Contracts, and Other Records; Public Inspection
Section 8506.153. Filing of Copies of Audit Report
Section 8506.154. Rates and Other Charges
Section 8506.155. Use of Excess Revenue
Section 8506.156. Tax or Assessment or Pledge of Credit of State Not Authorized by Chapter