Texas § GV.1232.104 - ISSUANCE OF OBLIGATIONS FOR ALTERNATIVE FUEL PROJECTS

§ GV.1232.104. ISSUANCE OF OBLIGATIONS FOR ALTERNATIVE FUEL PROJECTS

ISSUANCE OF OBLIGATIONS FOR ALTERNATIVE FUEL PROJECTS. (a) If the authority determines that a project is financially viable and sufficient revenue is or will be available, the authority may issue and sell obligations the proceeds of which shall be used for the financing of: (1) the conversion of state agency vehicles and other sources of substantial energy output to an alternative fuel under Subchapter A , Chapter 2158 ; (2) the construction, acquisition, or maintenance by the commission of fueling stations supplying alternative fuels or equipment enhancing the use of engine-driven technology to support state agency vehicles and other energy applications that use an alternative fuel; (3) the conversion of school district motor vehicles and other sources of substantial energy output to an alternative fuel; (4) the construction, acquisition, or maintenance by a school district of fueling stations supplying alternative fuels or equipment enhancing the use of engine-driven technology to support school district motor vehicles and other energy applications that use an alternative fuel; (5) the conversion of local mass transit authority or department motor vehicles and other sources of substantial energy output to an alternative fuel; (6) the construction, acquisition, or maintenance of fueling stations supplying alternative fuels or equipment enhancing the use of engine-driven technology by a local mass transit authority or department to support transit authority or department vehicles and other energy applications that use an alternative fuel; (7) the conversion of motor vehicles and other sources of substantial energy output of a local government to an alternative fuel; (8) the conversion of motor vehicles and other sources of substantial energy output of a hospital district or authority, a housing authority, or a district or authority created under Section 52 , Article III, Texas Constitution, or Section 59 , Article XVI, Texas Constitution, to an alternative fuel; (9) the construction, acquisition, or maintenance of fueling stations supplying alternative fuels or equipment enhancing the use of engine-driven technology to support motor vehicles and other energy applications that use an alternative fuel by a county, a municipality, or an entity described by Subdivision (8); or (10) a joint venture between the private sector and a state agency or political subdivision that is required under law to use an alternative fuel in the agency's or subdivision's vehicles or other energy applications to: (A) convert vehicles or other sources of substantial energy output to an alternative fuel; (B) develop fueling stations and resources for the supply of alternative fuels and engine-driven applications; (C) aid in the distribution of alternative fuels; and (D) engage in other projects to facilitate the use of alternative fuels. (b) The board may provide for the payment of the principal of or interest on an obligation issued under this section: (1) by pledging all or a part of the revenue the state derives from the sale of alternative fuel, alternative fuel equipment or technology, or vehicles powered by an alternative fuel; (2) by contracting with a political subdivision or a private entity to pledge revenue the political subdivision or private entity derives from the sale of alternative fuel, alternative fuel equipment or technology, or vehicles powered by an alternative fuel in an amount sufficient to ensure that the obligations are paid; (3) by pledging appropriated general revenues of the state or other appropriated money in the state treasury; or (4) from any other source of funds available to the board. (c) The authority shall attempt to: (1) include minority-owned businesses in the issuance and underwriting of at least 20 percent of the obligations issued under this section; and (2) include women-owned businesses in the issuance and underwriting of at least 10 percent of the obligations issued under this section. (d) Costs of administering the alternative fuel finance program shall be considered a part of project costs and shall be funded with proceeds of the obligations. Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999. Amended by: Acts 2005, 79th Leg., Ch. 864 (S.B. 1032 ), Sec. 4, eff. September 1, 2005.