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

(a) Before a river authority may acquire property under Section 152.202(2) through the exchange of revenue bonds, notes, or other obligations, the authority must obtain a written appraisal of the property by an independent appraiser certifying that the property has a value equal to or greater than the par value of the bonds, notes, or other obligations. (27243)

(b) The river authority shall: (27244)

(1) maintain the appraisal on file as a public record; and (27245)

(2) file a copy of the appraisal with the Texas Commission on Environmental Quality. (27246)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. Amended by Acts 2003, 78th Leg., ch. 785, Sec. 55, eff. Sept. 1, 2003. (27247)

SUBCHAPTER F. HEDGING TRANSACTIONS (27248)(Text)
Sec. 152.251. DEFINITION. (27249)(Text)

In this subchapter, "hedging" means buying or selling crude oil, fuel oil, natural gas, or electric energy futures or options, or similar contracts on those commodity futures, as a protection against loss due to price fluctuations. (27250)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27251)

Sec. 152.252. AUTHORITY TO ENTER INTO HEDGING CONTRACT. (27252)(Text)

(a) A river authority or a corporation created under Section 152.051 may enter into a hedging contract and related security and insurance agreements. (27253)

(b) A hedging transaction must comply with the regulations of the Commodity Futures Trading Commission and the Securities and Exchange Commission. (27254)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27255)

Sec. 152.253. PAYMENT CONSIDERED FUEL EXPENSE. (27256)(Text)

A payment by a river authority or a corporation created under Section 152.051 under a hedging contract or related agreement in relation to fuel supplies or fuel reserves is a fuel expense. The authority or corporation may credit any amount it receives under the contract or agreement against fuel expenses. (27257)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27258)

Sec. 152.254. INVESTMENT OF MONEY IN HEDGING TRANSACTION. (27259)(Text)

(a) Except as provided by Subsection (b), the board of directors of a river authority may determine and designate the amount of money to be invested in a hedging transaction. (27260)

(b) The board of directors of the river authority by formal policy shall regulate the investment of money in hedging contracts. An investment may be made only for hedging purposes. The policy must provide restrictions and procedures for making an investment that a person of ordinary prudence, discretion, and intelligence, exercising the judgment and care under the circumstances then prevailing, would follow in the management of the person's own affairs, not in regard to speculation but in regard to the permanent disposition of the person's money, considering: (27261)

(1) the probable income; and (27262)

(2) the probable safety of the person's capital. (27263)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27264)

Sec. 152.255. RECOVERABILITY OF COSTS FROM RATEPAYERS. (27265)(Text)

This subchapter does not limit the authority of the Public Utility Commission of Texas to determine the recoverability of costs from ratepayers. (27266)

Added by Acts 1999, 76th Leg., ch. 227, Sec. 26, eff. Sept. 1, 1999. (27267)

SUBCHAPTER G. ELECTRIC TRANSMISSION SERVICES AND FACILITIES OF RIVER AUTHORITY (27268)(Text)
Sec. 152.301. ELECTRIC TRANSMISSION SERVICES AND FACILITIES. (27269)(Text)

Notwithstanding any other law, a river authority may: (27270)

(1) provide transmission services, as defined by the Utilities Code or the Public Utility Commission of Texas, on a regional basis to any eligible transmission customer at any location within or outside the boundaries of the river authority; and (27271)

(2) acquire, including by lease-purchase, lease from or to any person, finance, construct, rebuild, operate, or sell electric transmission facilities at any location within or outside the boundaries of the river authority. (27272)

Added by Acts 1999, 76th Leg., ch. 1064, Sec. 29, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.108(a), eff. Sept. 1, 2001. (27273)

Sec. 152.302. LIMITATION ON ELECTRIC TRANSMISSION FACILITIES. (27274)(Text)

This subchapter does not: (27275)

(1) authorize a river authority to construct electric transmission facilities for an ultimate consumer of electricity to enable that consumer to bypass the transmission or distribution facilities of its existing provider; or (27276)

(2) relieve a river authority from an obligation to comply with each provision of the Utilities Code concerning a certificate of convenience and necessity for a transmission facility. (27277)

Added by Acts 1999, 76th Leg., ch. 1064, Sec. 29, eff. Sept. 1, 1999. Amended by Acts 2001, 77th Leg., ch. 1420, Sec. 8.108(a), eff. Sept. 1, 2001. (27278)

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