The board may purchase, lease, hold, accept as a gift, and sell water rights or the right to use water as necessary to operate the bank and facilitate the transfer of water rights from the bank for future beneficial use in Texas, including accepting and holding donations of water rights to meet instream, water quality, fish and wildlife habitat, or bay and estuary inflow needs in accordance with state law.

Source Note:The provisions of this §359.3 adopted to be effective May 13, 1994, 19 TexReg 3257; amended to be effective February 4, 1998, 23 TexReg 782.