A county may pay for relocating a water line owned by a water control and improvement district if:

1. (1) the relocation is necessary to complete construction or improvement of a farm-to-market road as described by Section 256.008; and

2. (2) the district agrees to pay the county for the relocation costs:

   1. (A) within 20 years; and
   2. (B) with interest at a rate equal to the rate paid by the county on its road and bridge fund time warrants.

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.