Tex. Water Code Section 17.0741
Economically Distressed Areas Interest and Sinking Fund

(a)

The Economically Distressed Areas Interest and Sinking Fund is a special fund in the State Treasury to be used to pay debt service on bonds issued for the purposes provided by Subchapter K of this chapter. The fund is composed of:

(1)

proceeds from the sale of political subdivision bonds to the Texas Water Resources Finance Authority in amounts provided by the General Appropriations Act;

(2)

money provided by the federal government, the state, counties, or other local governmental entities and by private entities for the purpose of paying debt service on bonds issued for purposes provided by Subchapter K of this chapter; and

(3)

any other money deposited to the credit of the fund.

(b)

Money shall be paid into the economically distressed areas interest and sinking fund from sources specified in Subsection (a) of this section in amounts sufficient to:

(1)

pay the interest coming due on all outstanding bonds during the ensuing fiscal year;

(2)

pay the principal on all bonds that mature during the ensuing fiscal year, plus collection charges and exchanges on bonds; and

(3)

establish a reserve equal to the average annual principal and interest requirements on all outstanding bonds.
Added by Acts 1989, 71st Leg., ch. 624, Sec. 2.16.

Source: Section 17.0741 — Economically Distressed Areas Interest and Sinking Fund, https://statutes.­capitol.­texas.­gov/Docs/WA/htm/WA.­17.­htm#17.­0741 (accessed Jun. 5, 2024).

17.001
Definitions 17.002
Open Meetings and Open Records Laws 17.003
Bond Review 17.011
Issuance of Water Development Bonds 17.012
Description of Bonds 17.013
Sale Price of Bonds 17.014
Interest on Bonds 17.015
Form, Denomination, Place of Payment 17.016
Maturity of Bonds 17.017
Redemption Before Maturity 17.018
Registered and Bearer Bonds 17.019
Notice of Bond Sale 17.020
Competitive Bids 17.021
Security for Bids 17.022
Approval of Bonds 17.023
Execution of Bonds 17.024
Facsimile Signatures and Seals 17.025
Signature of Former Officer 17.026
Bonds Incontestable 17.027
Payment by Comptroller 17.028
Payment Enforceable by Mandamus 17.029
Refunding Bonds 17.030
Bonds Negotiable Instruments 17.031
Bonds Not Taxable 17.032
Authorized Investments 17.033
Security for Deposit of Funds 17.034
Mutilated, Lost, Destroyed Bonds 17.035
Subchapter Cumulative of Other Laws 17.071
Disposition of Money Received 17.072
Development Fund 17.073
Water Development and Economically Distressed Areas Clearance Funds 17.074
Interest and Sinking Fund 17.075
Administrative Fund 17.076
Combined Facilities Operation and Maintenance Fund 17.077
Credits to Clearance Funds 17.078
Transfers at End of Fiscal Year 17.079
Transfers to Interest and Sinking Fund 17.080
Additional Funds for Payment of Bonds 17.081
Transfers to Administrative Fund 17.082
Transfers to Development Fund 17.083
Investment of Reserve Money 17.084
Limitation on Board Investment 17.085
Sale of Securities 17.086
Transfers to Be Made by Comptroller 17.0111
Dedication of Certain Bonds 17.0112
Authorization of Certain Bonds for Financial Assistance 17.121
Financial Assistance 17.122
Application for Assistance 17.123
Findings Regarding Permits 17.124
Considerations in Passing on Applications 17.125
Approval of Application 17.127
Limitation on Use of Funds 17.128
Recreational Access 17.171
Definition 17.172
Applicability 17.173
Method of Financial Assistance 17.174
Conditional Approval 17.175
Bond Maturity 17.176
Interest Rate 17.177
Approval and Registration 17.178
Bonds Incontestable 17.179
Security for Bonds 17.181
Sale of Bonds by Board 17.182
Proceeds from Sale 17.183
Construction Contract Requirements 17.184
Filing Construction Contract 17.185
Inspection of Projects 17.186
Alteration of Plans 17.187
Certificate of Approval 17.188
Obtaining Financial Assistance 17.189
Considerations for Certain Financial Assistance 17.271
Purpose 17.272
Financial Assistance 17.273
Authority of Political Subdivision 17.274
Application for Assistance 17.275
Considerations in Passing on Application 17.276
Action on Application 17.277
Approval of Application 17.278
Findings Regarding Permits 17.279
Limitation on Use of Funds 17.0741
Economically Distressed Areas Interest and Sinking Fund 17.771
Purpose 17.772
Financial Assistance 17.773
Application for Assistance 17.774
Considerations in Passing on Application 17.775
Action on Application 17.776
Approval of Application 17.0791
Transfers to Economically Distressed Areas Interest and Sinking Fund 17.0821
Transfers to Revolving Funds 17.851
Purpose 17.852
Definitions 17.853
Texas Water Resources Fund 17.854
Methods of Financial Assistance 17.855
Financial Assistance by Acquisition of Acquired Obligations 17.856
Consideration in Passing on Application for Financial Assistance 17.857
Approval of Application 17.858
Acquisition of Acquired Obligations 17.859
Issuance of Revenue Bonds by the Board 17.0871
Sale of Political Subdivision Bonds to the Texas Water Resources Finance Authority 17.871
Definitions 17.872
Issuance of Bonds 17.873
Conditions for Issuance of Bonds 17.874
Periodic Determination of Interest 17.875
Persons Designated to Act as Agents of Board 17.876
Security Qualifications 17.877
Investment Securities 17.878
Form of Bonds 17.879
Funds 17.880
Sale of Securities 17.881
Sale of Obligations to Texas Water Resources Finance Authority 17.882
Resolutions, Orders, Etc 17.883
Bond Review Board 17.884
Approval of Attorney General 17.885
Bonds Incontestable 17.886
Payment and Transfers by Comptroller 17.887
Refunding Bonds 17.888
Mutilated, Lost, or Destroyed Bonds 17.889
Eligible Security 17.890
Legal Investments 17.891
Tax Exempt Bonds 17.892
Enforcement by Mandamus 17.893
Subchapter Cumulative of Other Laws 17.894
Bond Enhancement Agreements 17.895
Sources of Assets 17.896
Repayment Proceeds 17.897
Conservation Program 17.898
Conservation Project 17.899
Eligible Fund Uses 17.900
Grant to State Agency 17.901
Grant or Loan to Political Subdivision 17.902
Review of Application for and Approval of Grant 17.903
Contract Authority 17.904
Linked Deposit 17.905
Linked Deposit Program 17.906
Application by Eligible Lending Institutions to Participate in Linked Deposit Program 17.907
Approval or Rejection of Application 17.908
Deposit Agreement 17.909
Compliance 17.910
State Liability Prohibited 17.911
Limitations on Program 17.912
Rules 17.913
Grant Standards 17.921
Definitions 17.922
Financial Assistance 17.923
County Eligibility for Financial Assistance 17.927
Application for Financial Assistance 17.928
Findings Regarding Permits 17.929
Considerations in Passing on Application 17.930
Approval or Disapproval of Application 17.931
Application Amendment 17.932
Method of Financial Assistance 17.933
Terms of Financial Assistance 17.934
Sewer Connections 17.935
Grant Standards 17.936
Recovery of Economically Distressed Area Impact Fees 17.937
Reporting and Transparency Requirements 17.951
Definitions 17.952
Issuance of Water Financial Assistance Bonds 17.953
Conditions for Issuance of Water Financial Assistance Bonds 17.954
Bond Enhancement Agreements 17.955
Persons Designated to Act as Agents of Board 17.956
Texas Water Development Fund Ii 17.957
State Participation Account 17.958
Economically Distressed Areas Program Account 17.959
Financial Assistance Account 17.960
Bond Resolutions 17.961
Transfers to Revolving Funds 17.962
State Approvals 17.963
Payment of Board Obligations 17.964
Eligible Security 17.965
Legal Investments 17.966
Mutilated, Lost, or Destroyed Bonds 17.967
Refunding Bonds 17.968
Sale of Political Subdivision Bonds by the Board 17.969
Tax Exempt Bonds 17.970
Enforcement by Mandamus 17.971
Subchapter Cumulative of Other Laws 17.991
Definitions 17.992
Training for Applicants 17.993
Training for Operating Entities 17.994
Training Requirements 17.1245
Evaluation 17.1765
Certification of Application 17.9021
Application for and Approval of Loan 17.9022
Financing of Grant or Loan for Political Subdivision 17.9225
Residential Water and Sewer Connection Assistance 17.9226
Use of Certain General Obligation Bonds 17.9275
Prioritization of Projects by Board 17.9615
Transfers to Rural Water Assistance Fund 17.9616
Transfer to Water Infrastructure Fund 17.9617
Transfers to State Water Implementation Revenue Fund for Texas
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 17.0741’s source at texas​.gov