Texas Water Code 53.107 – Distribution of Water and Use of Revenues Obtained From Distribution of Water
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(a) The board shall:
(1) prescribe the terms on which water will be furnished;
(2) fix the rate to be paid by users of water from the district; and
(3) make rules and regulations governing the distribution and use of water.
(b) The board shall apply any revenue obtained from the sale of water to operation and maintenance expenses. Any revenue left after paying these expenses shall be used to pay interest on bonds and other indebtedness incurred by the district with the remainder to be placed in the sinking fund.
Terms Used In Texas Water Code 53.107
- Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.