Sec. 164.001. JOINT OWNERSHIP OF ELECTRIC UTILITY FACILITIES AUTHORIZED. (a) Political subdivisions may join together to finance, construct, complete, acquire, or operate electric utility facilities so that the facilities or an undivided interest in the facilities is jointly owned by the political subdivisions as cotenants or co-owners.
(b) The ownership shares in the facilities are those approved by the governing bodies of the political subdivisions, as set forth in an agreement authorized by the governing bodies.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.
Section: 164.001 164.002 164.003 164.004 164.005 NextLast modified: September 28, 2016