Texas § 49.507 CONTRACT TO PURCHASE PROPORTIONATE WATER RIGHTS; WATER RIGHTS SALE CONTRACT.

Texas Statutes

§ 49.507 — CONTRACT TO PURCHASE PROPORTIONATE WATER RIGHTS; WATER RIGHTS SALE CONTRACT.

Texas § 49.507

Code WAWater Code

This text of Texas § 49.507 (CONTRACT TO PURCHASE PROPORTIONATE WATER RIGHTS; WATER RIGHTS SALE CONTRACT.) is published on Counsel Stack Legal Research, covering Texas primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Tex. Water Code Code Ann. § 49.507 (2026).

Text

Sec. 49.507. CONTRACT TO PURCHASE PROPORTIONATE WATER RIGHTS; WATER RIGHTS SALE CONTRACT.

(a)A municipal water supplier may contract to purchase the proportionate water rights described by Section 49.505 .

(b)The purchase price may not exceed 68 percent of the current market value, as determined under Section 49.509 , for the year that the municipal water supplier petitions the district.

(c)The contract must be in writing in a document entitled "Water Rights Sales Contract."

(d)The contract must include the purchase price for the water rights or, if the consideration for the sale is not monetary, the terms of the sale.

(e)The municipal water supplier shall file the contract with the Rio Grande watermaster not later than the 10th day after the date the contract is executed.

(f)The mun

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Sec. 49.507. CONTRACT TO PURCHASE PROPORTIONATE WATER RIGHTS; WATER RIGHTS SALE CONTRACT. (a) A municipal water supplier may contract to purchase the proportionate water rights described by Section 49.505 .
(b) The purchase price may not exceed 68 percent of the current market value, as determined under Section 49.509 , for the year that the municipal water supplier petitions the district.
(c) The contract must be in writing in a document entitled "Water Rights Sales Contract."
(d) The contract must include the purchase price for the water rights or, if the consideration for the sale is not monetary, the terms of the sale.
(e) The municipal water supplier shall file the contract with the Rio Grande watermaster not later than the 10th day after the date the contract is executed.
(f) The municipal water supplier shall pay the purchase price when the proportionate amount of water rights is made available to the municipal water supplier.