1. (a) Surplus funds means those funds remaining after the approved project is completed.

2. (b) After the final accounting, the executive administrator shall notify the Applicant if surplus funds exist and advise the Applicant that the surplus funds may be used for:

   1. (1) payment of bonds in inverse order of maturity;
   2. (2) deposit into the interest and sinking fund; or
   3. (3) enhancements to the project that are explicitly approved by the executive administrator, including green components.

Source Note:The provisions of this §371.73 adopted to be effective August 4, 2010, 35 TexReg 6680.