Texas Administrative Code
Title 31 - NATURAL RESOURCES AND CONSERVATION
Part 10 - TEXAS WATER DEVELOPMENT BOARD
Chapter 363 - FINANCIAL ASSISTANCE PROGRAMS
Subchapter M - STATE WATER IMPLEMENTATION FUND FOR TEXAS AND STATE WATER IMPLEMENTATION REVENUE FUND FOR TEXAS
Section 363.1305 - Use of Funds
Universal Citation: 31 TX Admin Code ยง 363.1305
Current through Reg. 49, No. 38; September 20, 2024
(a) The board may use the funds for financial assistance to political subdivisions as follows:
(1) to make loans at or below market interest
rates, but not lower than 50 percent of the board's market rate;
(2) to make loans with terms not to exceed
the lesser of:
(A) the expected useful life
of the project assets; or
(B) 30
years;
(3) to defer loan
repayments, including deferral of principal and interest or accrued interest
under criteria developed by the board;
(4) to make loans with incremental repurchase
terms for an acquired facility, including terms for no initial repurchase
payment followed by progressively increasing incremental levels of interest
payment, repurchase of principal and interest, and ultimate repurchase of the
entire state interest in the facility using simple interest calculations;
or
(5) a combination of the
financing outlined in paragraphs (1) - (4) of this subsection.
(b) The board may make funding available under subsection (a) of this section only for implementation of water plan projects.
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