To participate in the agricultural water conservation linked deposit program, an eligible lending institution must:

1. (1) solicit loan applications, which must contain a description of an agricultural water conservation project;
2. (2) review applications to determine if applicants are eligible and creditworthy; and

3. (3) submit the applications of eligible and creditworthy applicants to the executive administrator with a certification:

   1. (A) of the interest rate applicable to each applicant by the eligible lending institution; and

   2. (B) of the soil and water conservation district in which an applicant is located by a director of the district that states that:

      1. (i) the applicant of the proposed project has a soil and water conservation plan approved by the district; and
      2. (ii) the project furthers or implements the plan.

Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(u), eff. Sept. 1, 2003;

Acts 2003, 78th Leg., ch. 352, Sec. 21, eff. Sept. 1, 2003.