31 Tex. Admin. Code § 371.16
Term of Financial Assistance
Effective Jul 4, 201641 TexReg 4844Source Note: The provisions of this §371.16 adopted to be effective August 4, 2010, 35 TexReg 6680; amended to be effective July 30, 2012, 37 TexReg 5602; amended to be effective September 11, 2014, 39 TexReg 7169; amended to be effective July 4, 2016, 41 TexReg 4844.Texas Secretary of State
- (a) The Board may offer financial assistance up to 20 years for the planning, acquisition, design and/or construction of a project, in accordance with the Act and the IUP under which the project received funding.
(b) In accordance with the Act and notwithstanding the terms in subsection (a) of this section, the Board may offer financial assistance in excess of 20 years, up to 30 years for:
- (1) a disadvantaged community, provided that the financial assistance does not exceed the expected design life of an eligible project; or
- (2) the purchase of bonds issued by a municipality, provided the financial assistance does not exceed the useful life of the underlying asset.
Source Note:The provisions of this §371.16 adopted to be effective August 4, 2010, 35 TexReg 6680; amended to be effective July 30, 2012, 37 TexReg 5602; amended to be effective September 11, 2014, 39 TexReg 7169; amended to be effective July 4, 2016, 41 TexReg 4844.