Texas Utilities Code - Section 164.004. Increase In Ownership Shares
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§ 164.004. INCREASE IN OWNERSHIP SHARES. (a) An
agreement under this chapter may provide for a political
subdivision to increase its present or future ownership share of
the electric utility facilities by installment purchase payments
and for another political subdivision that is a party to the
agreement to transfer, in consideration of those payments, any
portion of its present or future ownership share of the facilities
to the purchasing political subdivision.
(b) A payment made by a political subdivision to acquire an
ownership interest is not treated as a maintenance and operating
expense but is treated as a capital cost as if the political
subdivision had issued bonds to construct or acquire the ownership
interest, unless otherwise specified in the agreement.
Acts 1997, 75th Leg., ch. 166, § 1, eff. Sept. 1, 1997.
Section: 163.121 163.122 163.123 163.124 164.001 164.002 164.003 164.004 164.005 164.006 181.001 181.002 181.003 181.004 181.005
Last modified: August 10, 2007
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