Sec. 9078.0151. DEFINITION OF NET REVENUES. In this subchapter, "net revenues" or "net operating revenues" means all income or increment from the ownership and operation of improvements and facilities operated by the district, minus the amount reasonably required to provide for the administration, efficient operation, and adequate maintenance of the improvements and facilities. The terms do not include money derived from taxation.
Added by Acts 2019, 86th Leg., R.S., Ch. 468 (H.B. 4172), Sec. 1.05, eff. April 1, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 6 - Water and Wastewater
Subtitle I - Water Control and Improvement Districts
Chapter 9078 - Fannin County Water Control and Improvement District No. 1
Section 9078.0151. Definition of Net Revenues
Section 9078.0152. Authority to Issue Bonds
Section 9078.0153. Security for Revenue Bonds