Texas § UT.104.373 - REPAYMENT OF CUSTOMER RATE RELIEF BONDS

§ UT.104.373. REPAYMENT OF CUSTOMER RATE RELIEF BONDS

REPAYMENT OF CUSTOMER RATE RELIEF BONDS. (a) As long as any customer rate relief bonds or related financing costs remain outstanding, uniform monthly volumetric customer rate relief charges must be paid by all current and future customers that receive service from a gas utility for which a regulatory asset determination has been made under Section 104.365 . A gas utility and its successors, assignees, or replacements shall continue to bill and collect customer rate relief charges from the gas utility's current and future customers until all customer rate relief bonds and financing costs are paid in full. (b) The authority shall report to the railroad commission the amount of the outstanding customer rate relief bonds issued by the issuing financing entity under this subchapter and the estimated amount of annual bond administrative expenses. (c) All revenue collected from the customer rate relief charges shall be remitted promptly by the applicable servicers to the issuing financing entity or the bond trustee for the customer rate relief bonds to pay bond obligations and ongoing financing costs, including bond administrative expenses, to ensure timely payment of bond obligations and financing costs. (d) Customer rate relief property, including customer rate relief charges, may be applied only as provided by this subchapter. (e) Bond obligations are payable only from sources provided for payment by this subchapter. Added by Acts 2021, 87th Leg., R.S., Ch. 805 (H.B. 1520 ), Sec. 5, eff. June 16, 2021.