Sec. 15.306.  BOARD FINDINGS.  Before the board may acquire storage facilities in any reservoir, the board shall find affirmatively that:
(1)  it is reasonable to expect that the state will recover its investment in the facilities;
(2)  the cost of the facilities exceeds the current financing capabilities of the area involved, and the facilities cannot be reasonably financed by local interests without state participation;
(3)  the public interest will be served by acquisition of the facilities;  and
(4)  the facilities to be constructed or reconstructed contemplate the optimum development of the site which is reasonably reserved under all existing circumstances of the site.
Added by Acts 1981, 67th Leg., 1st C.S., p. 102, ch. 12, Sec. 1, eff. Nov. 10, 1981.