(a) An agency may not engage in any utility business other than the generation, transmission, and sale or exchange of electric energy to: (1) a participating public entity; or(2) a private entity that owns jointly with the agency an electric generating facility in this state.(b) The agency may:(1) perform any act necessary to the full exercise of the agency's powers;(2) enter into a contract, lease, or agreement with or accept a grant or loan from a: (A) department or agency of the United States;(B) department, agency, or political subdivision of this state; or(C) public or private person;(3) sell, lease, convey, or otherwise dispose of any right, interest, or property the agency considers to be unnecessary for the efficient maintenance or operation of its electric facilities;(4) use the uniform system of accounts prescribed for utilities and licenses by the Federal Energy Regulatory Commission; and(5) adopt rules to govern the operation of the agency and its employees, facilities, and service.Tex. Util. Code § 163.060
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.