1. (a) General. The board will assess fees for the purpose of recovering administrative costs from all political subdivisions with which the board agrees to participate in a state participation project under this subchapter in an amount of 0.77% of the amount of the total participation in the project by the board.
2. (b) Payment Method. Payment of one-third of the fee is due at closing. The balance of the fee may be paid in a limited number of annual installments with the consent of the development fund manager.

Source Note:The provisions of this §363.1017 adopted to be effective October 8, 2002, 27 TexReg 9382.