Texas Utilities Code 163.054 – Creation of Agency
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(a) Public entities may create an agency by concurrent ordinances subject to voter approval.
(b) A public entity may join in the creation of an agency under this subchapter only if on May 8, 1975, and at the time the concurrent ordinance is adopted, the entity was engaged in the authorized generation of electric energy for sale to the public. This subsection does not prohibit a public entity from disposing of its electric generating capabilities after creation of the agency.
Terms Used In Texas Utilities Code 163.054
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
(c) An agency is a:
(1) separate municipal corporation;
(2) political subdivision of this state; and
(3) political entity and corporate body.
(d) An agency may not impose a tax but has all the other powers relating to municipally owned utilities and provided by law to a municipality that owns a public utility.