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