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A BILL TO BE ENTITLED
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AN ACT
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relating to the authority of the Texas Water Development Board to |
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provide financial assistance from the economically distressed |
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areas account that is not required to be repaid. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Section 17.933(c), Water Code, is amended to |
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read as follows: |
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(c) The total amount of financial assistance provided by the |
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board to political subdivisions under this subchapter from |
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state-issued bonds for which repayment is not required may not |
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exceed at any time 90 [70] percent of the total principal amount of |
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issued and unissued bonds authorized under Article III of the Texas |
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Constitution, for purposes of this subchapter plus outstanding |
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interest on those bonds. |
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SECTION 2. This Act takes effect September 1, 2023. |