- (a) The executive administrator must submit applications for financing under this subchapter to the board with comments concerning financial assistance. The application will be scheduled on the agenda for board consideration at the earliest practical date. The applicant and other interested parties known to the board must be notified of the time and place of such meeting.
(b) The board may grant the application only if the board finds that at the time the application for financial assistance was made:
- (1) The public interest is served by state assistance for the project; and
- (2) For an application for financial assistance for which repayment is expected, the money or revenue pledged by the political subdivision will be sufficient to meet all obligations assumed by the political subdivision during the term of the financial assistance.
Source Note:The provisions of this §363.1407 adopted to be effective May 4, 2025, 50 TexReg 2604.