1. (a) In order to be eligible for a loan, an applicant must prove a consistent income based upon tax revenue, and show, to the satisfaction of the commission, that the income should continue at approximately the same level over the period of the loan being considered; or
2. (b) The applicant must prove, to the satisfaction of the commission, that the non-tax-based income which applicant has produced for at least the past five years should reasonably continue at the same or higher level, and that amount of income would be sufficient to make the payments for the duration of the loan being considered; and
3. (c) The applicant must have favorable credit references in the opinion of the commission with no history of defaults on loans and/or debts incurred.

Source Note:The provisions of this §463.5 adopted to be effective June 26, 1992, 17 TexReg 4264.