These sections are proposed to establish and administer the Texas Water Bank in accordance with the Texas Water Code, Chapter 15, Subchapter K. The board shall administer the water bank to facilitate water transactions to provide sources of adequate water supplies for use within the State of Texas. The adoption of these rules is not intended to prevent any person from selling or leasing water or water rights by transactions outside the purview of the water bank or duly-established regional water banks, where such transactions are otherwise allowed by law.

Source Note: The provisions of this §359.1 adopted to be effective May 13, 1994, 19 TexReg 3257; amended to be effective February 4, 1998, 23 TexReg 782.