Texas Government Code 1232.066 – Board Authority
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(a) The board’s authority under this chapter is limited to the financing of:
(1) the acquisition or construction of a building;
(2) the purchase or lease of equipment;
(3) stranded costs of a municipal power agency; or
(4) customer rate relief bonds approved by the Railroad Commission of Texas in accordance with Subchapter I, Chapter 104, Utilities Code.
(b) The board’s authority does not affect the authority of the commission or any other state agency.
Terms Used In Texas Government Code 1232.066
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- Property: means real and personal property. See Texas Government Code 311.005
(c) Buildings and equipment financed by the authority under this chapter do not become part of other property to which they may be attached or into which they may be incorporated, without regard to whether the other property is real or personal.