Sec. 15.707. WATER BANK ACCOUNT. (a) The water bank account is created as a special account in the water assistance fund and is composed of:
(1) money appropriated to the board for the program;
(2) fees collected by the board under this subchapter;
(3) money transferred to the account from the water assistance fund in Section 15.011(c) of this code;
(4) grants, contracts, gifts, or other such funds that the board may receive relating to this subchapter;
(5) money received from the transfer of water or water rights held in the board's name in the bank; and
(6) interest earned on the investment of money in the account.
(b) The money in the account may be used only for the administration and operation of the water bank by the board under this subchapter.
Added by Acts 1993, 73rd Leg., ch. 647, Sec. 1, eff. Aug. 30, 1993. Amended by Acts 1999, 76th Leg., ch. 61, Sec. 3, eff. May 10, 1999.
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