| The Authority is charged
by State Legislative mandate with three functions, which include maintenance of a Master
Plan for Basin-wide development, serving as local sponsor for Federal water projects and
providing services authorized by the Texas Legislature within the defined territory of the
Authority. Public services currently provided and/or being developed by the Authority
include wastewater treatment, water treatment, flood control, recreation,
hydroelectricity, navigation, and reservoir facilities. On a functional basis, the Authority operates as a
governmental water utility. Each operating or financing endeavor of TRA is an independent
financial entity. The Authority receives no revenues from a direct tax base or
appropriations from the state or federal government. TRA is only compensated by those
using the services for which they have contracted, and only to the degree services are
received.
The Authority owns and operates eight water treatment and/or supply projects, five wastewater
treatment projects, has water in four reservoirs, and one recreation project ("Projects").
The services provided by each water treatment, wastewater treatment, and reservoir project
of the Authority are contracted for by cities,
municipalities or districts
("contracting parties"). The contracting parties have agreed to pay their
pro-rata share of the cost of debt service and operation and maintenance expenses of each
project. Each
project has been set up as an individual enterprise fund,
and the Authority's Board of Directors exercises oversight
responsibility for each project.
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