Texas Water Code 63.334 – Assessment Fund
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(a) The assessments shall be paid to the assessor and collector and shall be kept by him in a separate fund known as the “Assessment Fund.”
(b) Payments out of the fund shall be made to retire the bonds, notes, debentures, or other evidences of debt of the district on vouchers drawn by the commission each year on the maturity of the indebtedness.
Terms Used In Texas Water Code 63.334
- Commission: means the board of navigation and canal commissioners. See Texas Water Code 63.001
- District: means a self-liquidating navigation district. See Texas Water Code 63.001
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
- Year: means 12 consecutive months. See Texas Government Code 311.005
(c) The vouchers shall be signed by at least two members of the commission.