Tex. Nat. Resources Code Section 221.046
Mitigation Bank Financing

(a)

A mitigation project participant may issue a bond, note, or other obligation to acquire land for, to pay any part of the cost of, or to acquire, construct, improve, operate, or maintain a wetland mitigation bank.

(b)

The subdivision may issue a bond, note, or obligation:

(1)

in one or more series; and

(2)

payable from and secured by:

(A)

a tax;

(B)

an assessment;

(C)

an impact fee;

(D)

revenue;

(E)

a grant or gift;

(F)

a lease or contract; or

(G)

a combination of resources listed in Paragraphs (A)-(F).

(c)

In this section, “mitigation project participant” means an eligible political subdivision that seeks to:

(1)

implement a project the unavoidable result of which would adversely affect wetland; and

(2)

compensate for the loss of wetland acreage or wetland habitat value through participation in a mitigation bank.
Added by Acts 1997, 75th Leg., ch. 165, Sec. 24.01(a), eff. Sept. 1, 1997.

Source: Section 221.046 — Mitigation Bank Financing, https://statutes.­capitol.­texas.­gov/Docs/NR/htm/NR.­221.­htm#221.­046 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 221.046’s source at texas​.gov