Title SD, Special District Local Laws Code

Sec. 8510.0406. RATES AND CHARGES. (a) The authority shall impose rates and other charges for the sale or use of water or for services sold, provided, or supplied by the authority. (b) The rates and other charges must be reasonable and nondiscriminatory but sufficient to provide …

Sec. 8510.0407. CHANGES TO RATES AND CHARGES. (a) In this section, "affected person" has the meaning assigned by Section 13.002, Water Code. (b) The board shall establish a process to ensure that, before the authority makes a significant change to a rate or charge for the sale an…

Sec. 8510.0408. NOTICE OF RIGHT TO APPEAL CHANGES TO RATES. (a) In this section, "affected person" has the meaning assigned by Section 13.002, Water Code. (b) The authority shall notify affected persons of their right to appeal changes to rates: (1) in notices related to changes …

Sec. 8510.0409. DEPOSITORY. (a) The board shall designate one or more banks in the authority to serve as depository for the authority's money. (b) Authority money shall be deposited in a depository, except that: (1) money pledged to pay bonds may be deposited with the trustee ban…

Sec. 8510.0410. TAX NOT AUTHORIZED BY CHAPTER. This chapter does not authorize the authority to impose any form of tax inside the authority. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023. SUBCHAPTER E. BORROWED MONEY OR GRANTS

Sec. 8510.0501. POWER TO ISSUE OBLIGATIONS OR WARRANTS. The authority may issue obligations or warrants to obtain money. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8510.0502. LOANS AND GRANTS. The authority may: (1) borrow money for its corporate purposes; and (2) borrow money or accept a grant from the United States, this state, or any other source, and in connection with the loan or grant, enter into any agreement or assume any oblig…

Sec. 8510.0503. POWER TO SEEK AND ACCEPT CONTRIBUTIONS. (a) The authority may seek and accept from any source a contribution to an authority fund for the purpose of funding: (1) necessary studies; (2) engineering and other services; and (3) the collection and computation of data …

Sec. 8510.0504. POWER TO ISSUE BONDS. (a) The authority may issue bonds as authorized by this chapter for the purpose of providing money for any purpose authorized by this chapter. (b) The authority, without an election, may issue bonds payable from the authority's revenue pledge…

Sec. 8510.0505. FORM OF BONDS. Authority bonds must be: (1) issued in the authority's name; (2) signed by the president or vice president; and (3) attested by the secretary. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8510.0506. MATURITY. Authority bonds must mature not later than 50 years after the date of their issuance. Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.03, eff. April 1, 2023.

Sec. 8510.0507. BONDS PAYABLE FROM REVENUE. (a) In this section, "net revenue" means the authority's gross revenue less the amount necessary to pay the cost of maintaining and operating the authority and the authority's property. (b) Authority bonds may be secured by a pledge of:…

Sec. 8510.0508. COMPENSATION RATES. (a) The board shall set and revise the rates of compensation for: (1) water the authority sells; and (2) services the authority renders. (b) The rates of compensation must be sufficient to: (1) pay the expense of operating and maintaining the a…

Sec. 8510.0509. ADDITIONAL SECURITY. (a) Authority bonds, including refunding bonds, may be additionally secured by a deed of trust lien on the authority's physical property and all franchises, easements, water rights and appropriation permits, leases, and contracts, and all righ…

Sec. 8510.0510. USE OF BOND PROCEEDS. (a) The authority may set aside an amount of proceeds from the sale of authority bonds for the payment of interest expected to accrue during construction and a reserve interest and sinking fund. The resolution authorizing the bonds may provid…

Sec. 8510.0511. APPOINTMENT OF RECEIVER. (a) On default or threatened default in the payment of the principal of or interest on authority bonds, a court may appoint a receiver for the authority on petition of the holders of 25 percent of the outstanding bonds of the issue in defa…

Sec. 8510.0512. REFUNDING BONDS. (a) The authority may issue refunding bonds to refund outstanding authority bonds and interest on those bonds. (b) Refunding bonds may: (1) be issued to refund bonds of more than one series; (2) combine the pledges for the outstanding bonds for th…