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A BILL TO BE ENTITLED
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AN ACT
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relating to the financing by the Texas Water Development Board of |
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the proposed Lake Columbia reservoir project. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. DEFINITIONS. In this Act: |
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(1) "Authority" means the Angelina and Neches River |
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Authority. |
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(2) "Board" means the Texas Water Development Board. |
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(3) "Project" means the proposed Lake Columbia |
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reservoir project authorized by Permit to Appropriate State Water |
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Number 4228 (Application No. 4537). |
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SECTION 2. LEGISLATIVE FINDINGS. The legislature finds |
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that: |
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(1) the project is a rural water project for political |
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subdivisions; |
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(2) the construction and development of the project |
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are in the public interest; |
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(3) the board has committed to the authority to |
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acquire, through the use of money in the Texas Water Development |
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Fund II state participation account, an interest in the project for |
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an amount not to exceed 50 percent of the total project costs in |
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order to support the optimum regional development of the project's |
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site; and |
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(4) the board has determined that it is reasonable to |
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expect that the state will recover its investment in the facility. |
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SECTION 3. BOARD DISCRETION IN MAKING FINDINGS. (a) In |
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making any statutory finding under Section 16.135(1), Water Code, |
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necessary to complete financing of the project, the board may take |
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into account any revenue reasonably expected to be received from: |
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(1) a political subdivision not currently under |
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contract with the authority to participate in paying the costs of |
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the site acquisition stage of the project; or |
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(2) a political subdivision not currently under |
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contract to purchase a portion of the water to be supplied by the |
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project. |
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(b) The board is not required to identify a political |
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subdivision from which revenue is reasonably expected to be |
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received as provided by Subsection (a) of this section at the time |
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the board makes a finding described by that subsection. |
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SECTION 4. EFFECTIVE DATE. This Act takes effect |
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immediately if it receives a vote of two-thirds of all the members |
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elected to each house, as provided by Section 39, Article III, Texas |
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Constitution. If this Act does not receive the vote necessary for |
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immediate effect, this Act takes effect September 1, 2009. |