Texas Administrative Code
Title 30 - ENVIRONMENTAL QUALITY
Part 1 - TEXAS COMMISSION ON ENVIRONMENTAL QUALITY
Chapter 293 - WATER DISTRICTS
Subchapter G - OTHER ACTIONS REQUIRING COMMISSION CONSIDERATION FOR APPROVAL
Section 293.89 - Contract Tax Obligations

Universal Citation: 30 TX Admin Code § 293.89

Current through Reg. 50, No. 13; March 28, 2025

(a) A district that is required under Texas Water Code (TWC), §49.181 to obtain approval by the commission of the issuance of bonds may not enter into an obligation under TWC, §49.108 to collect taxes for debt that exceeds three years unless approved by the executive director. This section does not apply to contract taxes that are levied to pay for a district's share of bonds that have been issued by another district and approved by the commission or for bonds issued by a municipality.

(b) Applications for commission approval of contract tax obligations shall include the following:

(1) a resolution by the governing board requesting approval of the contract;

(2) a copy of the proposed contract;

(3) a detailed explanation of the intended use and project to be financed, and complete justification for the project to be financed;

(4) a proposed cash flow over the life of the obligation which includes all debt obligations of the district;

(5) unless waived by the executive director, if growth is used to support the projected tax rates, an independent market study;

(6) if funds received under the contract are proposed to reimburse a developer as defined in TWC, §49.052(d), a complete Bond Application Report as described in § 293.43(5) of this title (relating to Application Requirements) for the issuance of bonds. The reimbursement is subject to §§293.44, 293.46 - 293.53, 293.56, 293.57, 293.59, and 293.60 of this title (relating to the Issuance of Bonds) and, if appropriate, subject to executive director approval before reimbursement to the developer. The executive director may waive any of the requirements of this subsection upon a showing by the applicant that waiver will promote regionalization or is otherwise justified.

(7) an application fee in the amount of $100; and

(8) other information as the executive director may require.

(c) All applications for executive director approval of contract tax obligations will be subject to § 293.59 of this title (relating to Economic Feasibility of Project).

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