Tex. Water Code Section 15.321
Sale or Lease: Condition Precedent

(a)

No sale, transfer, or lease of a state facility is valid unless the board first makes the following affirmative findings:

(1)

that the applicant has a permit granted by the commission;

(2)

that the sale, transfer, or lease serves the public interest; and

(3)

that the consideration for the sale, transfer, or lease is fair, just, reasonable, and in full compliance with the law.

(b)

The consideration for a sale or transfer may be either money or revenue bonds which for the purposes of this section shall be deemed the same as money.

(c)

The amount of money shall be equal to the price for purchasing the facilities as prescribed by Sections 15.317-15.318 of this code, or if revenue bonds constitute the consideration, the principal amount of revenue bonds shall be equal to the price for purchasing the facilities as prescribed by the provisions of Sections 15.317-15.318 of this code, and the revenue bonds shall bear interest at the rate prescribed in Section 17.128 (Recreational Access) of this code with regard to bonds purchased with the proceeds of the Texas water development fund.
Added by Acts 1981, 67th Leg., 1st C.S., p. 102, ch. 12, Sec. 1, eff. Nov. 10, 1981.

Source: Section 15.321 — Sale or Lease: Condition Precedent, https://statutes.­capitol.­texas.­gov/Docs/WA/htm/WA.­15.­htm#15.­321 (accessed Jun. 5, 2024).

15.001
Definitions 15.002
Purpose 15.003
Power to Define Purposes 15.004
Transbasin Diversion 15.005
Consideration of Certain Applications 15.006
Open Meetings and Open Records Laws 15.007
Considerations for Certain Financial Assistance 15.008
Grant Standards 15.011
Water Assistance Fund 15.012
Management of Fund 15.101
Water Loan Assistance Fund 15.102
Financial Assistance 15.103
Application for Assistance 15.104
Findings Regarding Permits 15.105
Considerations in Passing on Application 15.106
Approval of Application 15.107
Method of Making Financial Assistance Available 15.109
Delivery of Loans of Financial Assistance 15.110
Requirements for Political Subdivisions and Federal Agencies 15.111
Approval and Registration 15.112
Contracts Incontestable 15.113
Inspection of Projects 15.114
Alteration of Plans 15.115
Certificate of Approval 15.116
Sale of Bonds by the Board 15.151
Definition 15.152
Fund 15.153
Use of Fund 15.154
Financial Assistance 15.201
Definitions 15.202
Creation and Administration of Program 15.203
Eligible Bonds 15.204
Rules 15.205
Insurance 15.206
Application for Insurance 15.207
Considerations in Passing on Application 15.208
Approval of Application 15.209
Contracts, Agreements, and Other Documents 15.210
Limitation on Insurance Coverage 15.211
Insurance Fees 15.212
Payment by State 15.213
Refunding Bonds 15.214
Inspection of Projects 15.215
Alteration of Plans 15.216
Certificate of Approval 15.217
Open Records and Open Meetings Laws 15.301
Fund Created 15.302
Authorized Projects 15.303
Joint Ventures 15.304
Permits Required 15.305
Storing Water 15.306
Board Findings 15.307
Facilities Wanted by Political Subdivision 15.308
Contracts: General Authority 15.309
Specific Contracts Authorized 15.310
Contracts: Facilities Acquired for a Term of Years 15.311
Maintenance Contracts 15.312
Recreational Facilities 15.313
Board May Sell or Lease Projects 15.314
Permit Required 15.315
Contract Must Be Negotiated 15.316
Reservoir Land 15.317
Price of Sale 15.318
Price of Sale: Facilities Acquired Under Contracts with the United States 15.319
Costs Defined 15.320
Lease Payments 15.321
Sale or Lease: Condition Precedent 15.322
Disposition of Proceeds 15.323
Sale of Stored Water 15.324
Sale Contract: Provisions, Limitations 15.325
Emergency Releases of Water 15.326
Preferences 15.327
Lease of Land Prior to Project Construction 15.328
Lease Contribution Equivalent to Taxes 15.329
Inspection of Projects 15.330
Alteration of Plans 15.331
Certificate of Approval 15.401
Program Creation 15.402
Research and Planning Fund 15.403
Rules 15.404
Research Contracts 15.405
Flood Control Planning Contracts 15.406
Regional Facility Planning 15.407
Facility Engineering in Economically Distressed Areas 15.431
Definitions 15.432
Fund 15.433
Management and Investment of Fund 15.434
Use of Fund 15.435
Bond Enhancement Agreements 15.437
Prioritization of Projects by Board 15.438
Advisory Committee 15.439
Rules 15.440
Reporting and Transparency Requirements 15.441
Policies and Procedures to Mitigate or Minimize Adverse Effects of Certain Federal Laws 15.471
Definition 15.472
Fund 15.473
Management and Investment of Fund 15.474
Use of Fund 15.475
Issuance of Revenue Bonds 15.476
Subchapter Cumulative of Other Laws 15.501
Definition 15.502
Fund 15.503
Management and Investment of Fund 15.504
Use of Fund 15.505
Transfer of Money 15.506
Advisory Committee 15.507
Rules 15.531
Definitions 15.532
Findings 15.533
Flood Infrastructure Fund 15.534
Use of Infrastructure Fund 15.535
Application Requirements 15.536
Approval of Applications 15.537
Rules 15.538
Information Clearinghouse 15.539
Liability 15.540
Advisory Committee 15.601
Creation of Fund 15.602
Definitions 15.603
Creation and Administration of Program 15.604
Financial Assistance Under the Revolving Fund 15.605
Rules 15.606
Lending Rate 15.607
Approval of Application 15.608
Approval and Registration 15.609
Recovery of Administrative Costs 15.610
Linked Deposit 15.611
Linked Deposit Program 15.612
Application by Eligible Lending Institutions to Participate in Linked Deposit Program 15.613
Certification of Project 15.614
Approval or Rejection of Application 15.615
Deposit Agreement 15.616
Compliance 15.617
State Liability Prohibited 15.618
Limitations on Program 15.701
Definitions 15.702
Creation of Bank 15.703
Operation of the Bank 15.704
Transfers and Conditions 15.705
Fees 15.706
Reports 15.707
Water Bank Account 15.708
Other Transfers 15.731
Definitions 15.732
Plumbing Loan Fund 15.733
Administration and Operation of Fund 15.734
Use of Fund 15.735
Application Submission and Approval 15.736
Political Subdivision Plumbing Improvement Loan Program Administration 15.737
Rules 15.801
Definitions 15.802
Hydrographic Survey Account 15.803
Use of Account 15.804
Hydrographic Surveys 15.805
Rules 15.851
Definitions 15.852
Creation of Fund 15.853
Use of Fund 15.854
Rules 15.901
Definitions 15.902
Disadvantaged Rural Community Water and Wastewater Financial Assistance Fund 15.903
Financial Assistance 15.904
Use of Sales Tax as Loan Security 15.905
Review and Approval of Loan Agreement by Attorney General 15.906
Registration 15.907
Validity and Incontestability 15.909
Rules 15.910
Application for Assistance 15.911
Findings Regarding Permits 15.912
Considerations in Acting on Application 15.913
Approval of Application 15.914
Construction Contract Requirements 15.915
Filing Construction Contract 15.916
Inspection of Projects 15.917
Alteration of Plans 15.918
Certificate of Approval 15.920
Authority of Political Subdivisions or Water Supply Corporations 15.951
Definitions 15.952
Creation of Account 15.953
Use of Account 15.954
Eligible Political Subdivisions and Nonprofit Organizations 15.955
Grant Application 15.956
Board Considerations in Evaluating Grant Application 15.957
Action on Grant Application 15.958
Rules 15.971
Definitions 15.972
Findings 15.973
Water Infrastructure Fund 15.974
Use of Water Infrastructure Fund 15.975
Approval of Applications 15.976
Applicable Law 15.977
Rules 15.978
Sale of Political Subdivision Bonds 15.979
Funding for Local Economic Development 15.980
Authority to Establish Economic Development Programs 15.981
Certain Obligations Restricted 15.991
Purpose 15.992
Definitions 15.993
Fund 15.994
Use of Fund 15.995
Financial Assistance in General 15.996
Loans to Nonprofit Water Supply or Sewer Service Corporations 15.1071
Sale of Political Subdivision Bonds to Texas Water Resources Finance Authority 15.3041
Reservation and Appropriation for Bays and Estuaries and Instream Uses 15.4061
Funding for Regional Water Plans 15.4063
Environmental Flows Funding 15.6041
Financial Assistance Under the Safe Drinking Water Revolving Fund 15.6042
Cross-collateralization of Funds 15.7031
Texas Water Trust 15.9751
Priority for Water Conservation
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Accessed:
Jun. 5, 2024

§ 15.321’s source at texas​.gov