Tex. Utilities Code § 164.004
INCREASE IN OWNERSHIP SHARES
Texas · Texas Utilities Code · Status: effective
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- Citation
- Tex. Utilities Code § 164.004, INCREASE IN OWNERSHIP SHARES, Texas, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/578095
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Full text
(a) An agreement under this chapter may provide for a political subdivision to increase its present or future ownership share of the electric utility facilities by installment purchase payments and for another political subdivision that is a party to the agreement to transfer, in consideration of those payments, any portion of its present or future ownership share of the facilities to the purchasing political subdivision.
(b) A payment made by a political subdivision to acquire an ownership interest is not treated as a maintenance and operating expense but is treated as a capital cost as if the political subdivision had issued bonds to construct or acquire the ownership interest, unless otherwise specified in the agreement.