Texas Administrative Code
Title 10 - COMMUNITY DEVELOPMENT
Part 5 - OFFICE OF THE GOVERNOR, ECONOMIC DEVELOPMENT AND TOURISM OFFICE
Chapter 181 - TEXAS LEVERAGE FUND PROGRAM
Section 181.9 - Loan Closing
Universal Citation: 10 TX Admin Code ยง 181.9
Current through Reg. 49, No. 12; March 22, 2024
(a) Time and place. A loan closing shall take place at the Office or such other place as the Office shall designate. The time of a loan closing shall be mutually agreeable to the Office and the applicant, but in no event later than six months from the date of the loan commitment letter.
(b) Documents. The following documents shall be executed and delivered to the Office in a form acceptable to the Office, prior to funding of the program loan:
(1) Loan agreement executed by the
applicant, the city, and the Office;
(2) Promissory note executed by the
applicant;
(3) Uniform Commercial
Code financing statement executed by the applicant and the Office.
(c) Funding of loan. The program loan proceeds shall be made by wire transfer according to instructions specified by the EDC.
Disclaimer: These regulations may not be the most recent version. Texas may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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