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Texas Laws | Water Code
WATER CODE
TITLE 5. SPECIAL LAW DISTRICTS

(2) a reference to a unit includes a river authority to which this chapter applies. (27111)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27112)

Amended by: (27113)

Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.75, eff. April 1, 2009. (27114)

Sec. 152.052. POWERS OF NONPROFIT CORPORATION. (27115)(Text)

(a) A corporation created under Section 152.051 may exercise any power of the creating river authority except a power relating to solid waste management activities or activities as an exempt wholesale generator, but including the authority to acquire, develop, operate, and sell fuel, fuel reserves, and mineral interests. In this subsection, "exempt wholesale generator" has the meaning assigned by Section 32(a), Public Utility Holding Company Act of 1935 (15 U.S.C. Section 79z-5a(a)). (27116)

(b) When exercising a power under this chapter, a corporation created under Section 152.051 and the board of directors of the corporation have the same powers as the creating river authority and the authority's board, including the power to issue bonds or other obligations or otherwise borrow money on behalf of the river authority to accomplish any purpose of the corporation. (27117)

(c) With regard to the issuance of an obligation, the board of directors of a corporation created under Section 152.051 may exercise the powers granted to the governing body of: (27118)

(1) an issuer under Chapters 1201 and 1371, Government Code; and (27119)

(2) a public agency under Chapter 1204, Government Code. (27120)

(d) A corporation created under Section 152.051 and the creating river authority may: (27121)

(1) share officers, directors, employees, equipment, and facilities; and (27122)

(2) provide goods or services to each other at cost without the requirement of competitive bidding. (27123)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. Amended by Acts 1999, 76th Leg., ch. 1064, Sec. 25, eff. Sept. 1, 1999. (27124)

Sec. 152.053. BOARD OF DIRECTORS. (27125)(Text)

(a) The board of directors of the river authority shall appoint the directors of a corporation created under Section 152.051. (27126)

(b) A member of the river authority's board of directors may serve as a member of the corporation's board of directors. (27127)

(c) The directors of the corporation serve at the will of the river authority's board of directors. (27128)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27129)

Sec. 152.054. SUPERVISION BY BOARD OF DIRECTORS OF RIVER AUTHORITY. (27130)(Text)

(a) The budget of a corporation created under Section 152.051 must be approved by the board of directors of the river authority. (27131)

(b) The activities of the corporation are subject to the continuing review and supervision of the river authority's board of directors. (27132)

(c) The issuance of bonds or other obligations under this chapter by a corporation created under Section 152.051 must be approved by the board of directors of the river authority. (27133)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27134)

Sec. 152.055. LIABILITY OF CORPORATE PROPERTY FOR TAXES AND SPECIAL ASSESSMENTS. (27135)(Text)

The property of a corporation created under Section 152.051 is not exempt from taxes or special assessments imposed by this state or a municipality or other political subdivision of this state. (27136)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27137)

Sec. 152.056. TRANSFER OF RIVER AUTHORITY ASSETS TO CORPORATION. (27138)(Text)

Notwithstanding any other law, the board of directors of a river authority may sell, lease, loan, or otherwise transfer some, all, or substantially all of the electric generation property of the river authority to a corporation created under Section 152.051. The property transfer must be made under terms approved by the board of directors of the river authority. (27139)

Added by Acts 1999, 76th Leg., ch. 1064, Sec. 26, eff. Sept. 1, 1999. (27140)

Sec. 152.057. APPLICATION OF OTHER LAW TO RIVER AUTHORITY. (27141)(Text)

Reference in any other law to a river authority that is engaged in the distribution and sale of electric energy to the public includes a river authority that has created a corporation under Section 152.051 that is engaged in the distribution and sale of electric energy to the public. (27142)

Added by Acts 1999, 76th Leg., ch. 1064, Sec. 26, eff. Sept. 1, 1999. (27143)

Sec. 152.058. GUARANTEE AND OTHER CREDIT SUPPORT RELATING TO PUBLIC SECURITIES AND OTHER OBLIGATIONS. (27144)(Text)

(a) In this section, "public security" has the meaning assigned by Section 1202.001, Government Code. (27145)

(b) Under Section 52-a, Article III, Texas Constitution, a river authority that has created a corporation under Section 152.051 may guarantee or otherwise provide credit support for any public security or other obligation or contract of that corporation if the board of directors of the river authority determines that the guarantee or other credit agreement: (27146)

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