- (a) Review of application. The department will review an application submitted under Subchapter C of this chapter (relating to Procedures) and advise the applicant of any required information or data that is missing. When the application is complete, the department will so notify the applicant.
- (b) Analysis. Within 30 days after the date that notice of completion is sent under subsection (a) of this section, the executive director will perform an analysis of the application and prepare findings and recommendations for the commission. The executive director, by notifying the applicant, may extend the 30-day period for up to 45 additional days if additional time is needed to analyze the application and prepare the findings and recommendations. If after the extension of the period additional time is still needed because of the receipt of a substantial number of applications within a short period of time, the executive director may extend the time for analysis of the applications and preparation of findings and recommendations for an additional period. If the application is for a loan to be funded from general obligation bond proceeds, the findings and recommendations will address each of the considerations and requirements for preliminary approval specified in §6.33(a)(1) and (4) of this subchapter (relating to Commission Action - Loans from General Obligation Bond Proceeds).
- (c) Submission to commission. Upon completion of the analysis, the executive director will submit the application together with findings and recommendations to the commission for consideration at the first regular commission meeting held after the 30th day following the day that the executive director gives the submission to the commission.
Source Note:The provisions of this §6.31 adopted to be effective January 8, 1998, 23 TexReg 151; amended to be effective October 21, 2010, 35 TexReg 9361.