Sec. 9701.152. ALLOCATION OF EARNED INTEREST. The Red Bluff District shall annually distribute interest earned on the principal amount as follows:
(1) one-third to the Red Bluff District; and
(2) two-thirds to the member districts, to be allocated among the member districts in the same percentages as each member district's pro rata share of water under the master contract between the Red Bluff District and the member districts dated March 8, 1934.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.04, eff. April 1, 2013.
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