HOUSE BILL 2994 |
HOUSE AUTHOR: Lewis, Ron |
EFFECTIVE: 06-15-01 |
SENATE SPONSOR: Brown, J. E. "Buster" |
With certain exceptions, the Water Code requires that bond issuances require a general-law water district to receive approval of its issuance of bonds from the Texas Natural Resource Conservation Commission executive director before entering into a contractual obligation to collect tax for debt that exceeds three years. House Bill 2994 provides that this approval is not required if the contract taxes are levied to pay for the district's share of bonds issued by a municipality.