Texas Water Code 17.076 – Combined Facilities Operation and Maintenance Fund
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(a) The Combined Facilities Operation and Maintenance Fund is a special fund in the State Treasury.
(b) Money received from the sale of water, standby service, and the lease of land needed for operation and maintenance of facilities shall be credited to this fund. Any of the money which is not needed for operation and maintenance of facilities may be credited to the interest and sinking fund or used to meet contractual obligations incurred by the board in acquiring facilities.
Terms Used In Texas Water Code 17.076
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC