Tex. Water Code Section 152.058
Guarantee and Other Credit Support Relating to Public Securities and Other Obligations

(a)

In this section, “public security” has the meaning assigned by Section 1202.001 (Definitions), Government Code.

(b)

Under Section 52-a, Article III, Texas Constitution, a river authority that has created a corporation under Section 152.051 (Creation of Nonprofit Corporation) may guarantee or otherwise provide credit support for any public security or other obligation or contract of that corporation if the board of directors of the river authority determines that the guarantee or other credit agreement:

(1)

is beneficial to a public purpose of the river authority; and

(2)

is for the public purpose of:

(A)

the development and diversification of the economy of the state;

(B)

the elimination of unemployment or underemployment in the state; or

(C)

the development or expansion of commerce in the state.

(c)

A determination by the board of directors of a river authority under Subsection (b) is conclusive.

(d)

A guarantee or other credit agreement authorized by Subsection (b) may provide for the guarantee of or other credit support for public securities or other obligations or contracts of the corporation, all or a portion of which may be authorized, executed, and delivered in the future.

(e)

Chapter 1202 (Examination and Registration of Public Securities), Government Code, applies to a guarantee or other credit agreement under this section as if the guarantee or other credit agreement were a public security.
Added by Acts 2001, 77th Leg., ch. 430, Sec. 1, eff. Sept. 1, 2001.

Source: Section 152.058 — Guarantee and Other Credit Support Relating to Public Securities and Other Obligations, https://statutes.­capitol.­texas.­gov/Docs/WA/htm/WA.­152.­htm#152.­058 (accessed Apr. 29, 2024).

152.001
Applicability 152.002
Application of Other Law 152.051
Creation of Nonprofit Corporation 152.052
Powers of Nonprofit Corporation 152.053
Board of Directors 152.054
Supervision by Board of Directors of River Authority 152.055
Liability of Corporate Property for Taxes and Special Assessments 152.056
Transfer of River Authority Assets to Corporation 152.057
Application of Other Law to River Authority 152.058
Guarantee and Other Credit Support Relating to Public Securities and Other Obligations 152.101
Authority to Participate in Energy or Water Conservation Program 152.102
Participation in Conservation Program by Person Other than River Authority 152.103
Public Purpose and Governmental Function 152.151
Definition 152.152
Applicability 152.153
Authority for Economic Development Program 152.154
Program Area 152.155
Establishment of Program 152.156
Participation in Program by Person Other than River Authority 152.157
Staffing and Funding of Program 152.158
Agreement 152.159
Guidelines for Assistance to Public Fire-fighting Organizations 152.160
Receipt of Electric Service as Condition for Participation in Program 152.161
Limitations on Use of Program 152.201
Authority to Issue Obligations 152.202
Sale or Exchange of Obligations 152.203
Independent Appraisal 152.251
Definition 152.252
Authority to Enter into Hedging Contract 152.253
Payment Considered Fuel Expense 152.254
Investment of Money in Hedging Transaction 152.255
Recoverability of Costs from Ratepayers 152.301
Electric Transmission Services and Facilities 152.302
Limitation on Electric Transmission Facilities
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Accessed:
Apr. 29, 2024

§ 152.058’s source at texas​.gov