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1041 <br />HISTORICAL AND STATUTORY NOTES <br />2000 Main Volume <br />Prior Laws: <br />Acts 1987, 70th Leg., ch. 889. <br />Acts 1989, 71st Leg., ch. 628, § 1. <br />Acts 1989, 71st Leg., ch. 750, § 1. <br />Acts 1993, 73rd Leg., ch. 946, § 1. <br />Vernon's Ann.Civ.St. art. 842a -2. & 2(b). <br />Acts 1993, 73rd Leg., ch. 268, § 1. <br />Acts 1995, 74th Leg., ch. 76, § 5.45(d), (f). <br />V.T.C.A.. Government Code & 2256.012. <br />LIBRARY REFERENCES <br />2000 Main Volume <br />0 <br />Colleges and Universities 0 6(1). <br />WESTLAW Topic No. 81. <br />C.J.S. Colleges and Universities § 10. <br />2256.0201. Authorized Investments: Municipal Utili <br />(a) A municipality that owns a municipal electric utility that is engaged in the distribution and sale of electric energy <br />or natural gas to the public may enter into a hedging contract and related security and insurance agreements in <br />relation to fuel oil, natural gas, and electric energy to protect against loss due to price fluctuations. A hedging <br />transaction must comply with the regulations of the Commodity Futures Trading Commission and the Securities and <br />Exchange Commission. If there is a conflict between the municipal charter of the municipality and this chapter, this <br />chapter prevails. <br />(b) A payment by a municipally owned electric or gas utility under a hedging contract or related agreement in <br />relation to fuel supplies or fuel reserves is a fuel expense, and the utility may credit any amounts it receives under <br />the contract or agreement against fuel expenses. <br />(c) The governing body of a municipally owned electric or gas utility or the body vested with power to manage and <br />operate the municipally owned electric or gas utility may set policy regarding hedging transactions. <br />(d) In this section, "hedging" means the buying and selling of fuel oil, natural gas, and electric energy futures or <br />options or similar contracts on those commodity futures as a protection against loss due to price fluctuation. <br />Added by Acts 1999, 76th Leg., ch. 405, § 48, eff. Sept. 1, 1999. <br /><General Materials (GM) - References, Annotations, or Tables> <br />O <br />Electricity 1.5. <br />WESTLAW Topic No. 145. <br />C.J.S. Electricity § 6. <br />LIBRARY REFERENCES <br />2000 Main Volume <br />Copr. 0 West 2001 No Claim to Orig. U.S. Govt. Works <br />