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.
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