1-1 By: Montford S.B. No. 768 1-2 (In the Senate - Filed February 27, 1995; February 27, 1995, 1-3 read first time and referred to Committee on Finance; 1-4 March 16, 1995, reported favorably by the following vote: Yeas 11, 1-5 Nays 0; March 16, 1995, sent to printer.) 1-6 A BILL TO BE ENTITLED 1-7 AN ACT 1-8 relating to the recovery of the costs of administering the state 1-9 water pollution control revolving fund and additional state 1-10 revolving funds. 1-11 BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: 1-12 SECTION 1. Subchapter J, Chapter 15, Water Code, is amended 1-13 by adding Section 15.609 to read as follows: 1-14 Sec. 15.609. RECOVERY OF ADMINISTRATIVE COSTS. (a) The 1-15 board may charge a recipient of financial assistance from the 1-16 revolving fund or an additional state revolving fund an origination 1-17 fee and an annual fee. The board by rule shall set the fees at 1-18 amounts it considers necessary to recover the costs incurred by the 1-19 board in administering the revolving fund or an additional state 1-20 revolving fund that are not paid from that fund. 1-21 (b) The board may establish one or more operating funds to 1-22 finance the administration of the revolving fund or an additional 1-23 state revolving fund. An operating fund must be held outside the 1-24 state treasury and separate from the fund to which it relates. The 1-25 board shall deposit to the credit of the appropriate operating fund 1-26 the fees collected under Subsection (a). The board shall use money 1-27 deposited to the credit of an operating fund to pay the board's 1-28 costs of administering the revolving fund or additional state 1-29 revolving fund to which the operating fund relates, including the 1-30 cost of servicing debt obligations of recipients of financial 1-31 assistance made available from the revolving fund or additional 1-32 state revolving fund. 1-33 (c) The board may not transfer money in the revolving fund 1-34 or an additional state revolving fund to an operating fund, but the 1-35 board may transfer money in an operating fund to the revolving fund 1-36 or additional state revolving fund to which the operating fund 1-37 relates. 1-38 (d) Money in an operating fund shall be invested in 1-39 authorized investments as provided by board order, resolution, or 1-40 rule. 1-41 (e) The board may agree with the holder of a bond the 1-42 proceeds of which will be deposited in the revolving fund or an 1-43 additional state revolving fund that the board will use money in an 1-44 operating fund only as provided by this section. 1-45 SECTION 2. The importance of this legislation and the 1-46 crowded condition of the calendars in both houses create an 1-47 emergency and an imperative public necessity that the 1-48 constitutional rule requiring bills to be read on three several 1-49 days in each house be suspended, and this rule is hereby suspended, 1-50 and that this Act take effect and be in force from and after its 1-51 passage, and it is so enacted. 1-52 * * * * *