Tex. Natural Resources Code § 221.023
This is the official text of Tex. Natural Resources Code § 221.023, part of Texas’s Natural Resources Code — governs land, minerals, and natural resource management.
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§ 221.023. MITIGATION BANK CONTRACTS; CONTRACT PAYMENTS.
Official statutory text
(a) A state agency or eligible political subdivision may contract with another state agency or eligible political subdivision to pay jointly any part of the cost to acquire, design, construct, improve, or maintain a wetland mitigation bank or a buffer zone.
(b) Payment of the cost of a project or a payment required to be made under a contract may be made out of bond proceeds, taxes, or any other money available for the payment.
(c) If a contract provides for payment over a term of years, an eligible political subdivision may impose a tax in an amount necessary to:
(1) create a sinking fund for the contract payments; and
(2) make the payments when due.
(b) Payment of the cost of a project or a payment required to be made under a contract may be made out of bond proceeds, taxes, or any other money available for the payment.
(c) If a contract provides for payment over a term of years, an eligible political subdivision may impose a tax in an amount necessary to:
(1) create a sinking fund for the contract payments; and
(2) make the payments when due.
Status: in_force · Read it on the official government site
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