Natural Resources Code § 221.046

Sec. 221.046. MITIGATION BANK FINANCING. (a) A mitigation project participant may issue a bond, note, or other obligation to acquire land for, to pay any part of the cost of, or to acquire, construct, improve, operate, or maintain a wetland mitigation bank. (b) The subdivision may issue a bond, note, or obligation: (1) in one or more series; and (2) payable from and secured by: (A) a tax; (B) an assessment; (C) an impact fee; (D) revenue; (E) a grant or gift; (F) a lease or contract; or (G) a combination of resources listed in Paragraphs (A)-(F). (c) In this section, "mitigation project participant" means an eligible political subdivision that seeks to: (1) implement a project the unavoidable result of which would adversely affect wetland; and (2) compensate for the loss of wetland acreage or wetland habitat value through participation in a mitigation bank. Added by Acts 1997, 75th Leg., ch. 165, Sec. 24.01(a), eff. Sept. 1, 1997.