Texas § 62.120 CONTRACT FOR AND LEASE OF WATER SYSTEM.

Texas Statutes

§ 62.120 — CONTRACT FOR AND LEASE OF WATER SYSTEM.

Texas § 62.120

Code WAWater Code

This text of Texas § 62.120 (CONTRACT FOR AND LEASE OF WATER SYSTEM.) 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. § 62.120 (2026).

Text

Sec. 62.120. CONTRACT FOR AND LEASE OF WATER SYSTEM.

(a)A district may enter into operating contracts and leases with cities and other governmental subdivisions for the operation of the portions of the district's water system which are designated by the board or the commission.

(b)To the extent that the proceeds of revenue bonds were used to acquire the portion leased, the annual payments paid by the lessee to the district shall be in a sum which is sufficient to permit the district to pay the proportionate part of the principal, interest, reserves, and other requirements provided by the bond proceedings on any revenue bonds which were issued to acquire the leased properties.

(c)Bonds issued to acquire, improve, enlarge, or extend leased properties may mature serially or otherwise not m

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Sec. 62.120. CONTRACT FOR AND LEASE OF WATER SYSTEM. (a) A district may enter into operating contracts and leases with cities and other governmental subdivisions for the operation of the portions of the district's water system which are designated by the board or the commission.
(b) To the extent that the proceeds of revenue bonds were used to acquire the portion leased, the annual payments paid by the lessee to the district shall be in a sum which is sufficient to permit the district to pay the proportionate part of the principal, interest, reserves, and other requirements provided by the bond proceedings on any revenue bonds which were issued to acquire the leased properties.
(c) Bonds issued to acquire, improve, enlarge, or extend leased properties may mature serially or otherwise not more than 50 years from their date of issue.

Legislative History

Added by Acts 1971, 62nd Leg., p. 1625, ch. 452, Sec. 2, eff. May 26, 1971. Amended by: Acts 2023, 88th Leg., R.S., Ch. 1106 (S.B. 1500 ), Sec. 5, eff. June 18, 2023.