By: Hopson H.B. No. 3861
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to Texas Water Development Board financing for the Lake
  Columbia reservoir project.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  The legislature finds that the proposed Lake
  Columbia reservoir project authorized by Permit to Appropriate
  State Water Number 4228 (Application No. 4537) is a rural water
  project for political subdivisions and that its construction and
  development are in the public interest.  The legislature further
  finds that the Texas Water Development Board has committed to the
  Angelina and Neches River Authority, through the state
  participation account of the development fund, to acquire an
  interest in the proposed Lake Columbia reservoir project not to
  exceed fifty percent of the total project costs in order to support
  the optimum regional development of the project's site.  The
  legislature further finds that the Texas Water Development Board
  has determined that it is reasonable to expect that the state will
  recover its investment in the facility.
         SECTION 2.  In making any statutory findings necessary to
  complete financing of the Lake Columbia reservoir project, the
  Texas Water Development Board shall exercise the discretion that is
  available to the Board under Section 16.135(1), Water Code, to
  include future revenues from political subdivisions not currently
  under contract with the Angelina and Neches River Authority to
  participate in paying the costs of the Site Acquisition Stage of the
  Lake Columbia reservoir project and political subdivisions not
  currently under contract to purchase a portion of the water to be
  supplied by the project.  Such political subdivisions do not need to
  be identified at the time of the Board's findings.
         SECTION 3.  This Act takes effect immediately if it receives
  a vote of two-thirds of all the members elected to each house, as
  provided by Section 39, Article III, Texas Constitution.  If this
  Act does not receive the vote necessary for immediate effect, this
  Act takes effect September 1, 2009.