31 Tex. Admin. Code § 371.40
Promissory Notes and Loan Agreements with Nonprofit Water Supply Corporations, Eligible Nonprofit Noncommunity Water Systems, and Eligible Private Applicants
Effective Oct 8, 199823 TexReg 10042Source Note: The provisions of this §371.40 adopted to be effective October 13, 1997, 22 TexReg 9893; amended to be effective June 10, 1998, 23 TexReg 5980; amended to be effective October 8, 1998, 23 TexReg 10042.Texas Secretary of State
- (a) The board may provide financial assistance to corporations, eligible NPNC applicants that are not also eligible public applicants, or eligible private applicants by either purchasing bonds issued by such applicant; or by purchasing a promissory note and entering into a loan agreement with such applicant. If, however, an applicant is a governmental entity that is fully authorized to issue bonds, the applicant may not enter into a loan agreement as provided in this section.
- (b) If a corporation, eligible NPNC applicant, or eligible private applicant executes a promissory note and loan agreement with the board, the executive administrator may waive the hiring or employment of a financial advisor required pursuant to these rules.
Source Note:The provisions of this §371.40 adopted to be effective October 13, 1997, 22 TexReg 9893; amended to be effective June 10, 1998, 23 TexReg 5980; amended to be effective October 8, 1998, 23 TexReg 10042.