The board may provide loans to political subdivisions for structural and nonstructural flood control projects, and for development of floodplain management plans. Applicants for flood control shall be located within an area in which National Flood Insurance is available at the time of application and throughout the life of the board's financial assistance.

Source Note:The provisions of this §363.403 adopted to be effective July 19, 1991, 16 TexReg 3768.