The board, by resolution, may approve the application if it finds that:

1. (1) the public interest is served by state assistance for the project; and
2. (2) the revenue or taxes pledged by the applicant will be sufficient to meet all obligations assumed by the applicant during the succeeding period of not more than 50 years.

Source Note:The provisions of this §365.25 adopted to be effective January 1, 2002, 26 TexReg 11031; transferred effective February 15, 2020, as published in the January 24, 2020 issue of the Texas Register, 45 TexReg 593.