Texas Administrative Code
Title 31 - NATURAL RESOURCES AND CONSERVATION
Part 10 - TEXAS WATER DEVELOPMENT BOARD
Chapter 375 - CLEAN WATER STATE REVOLVING FUND
Subchapter I - NONPOINT SOURCE POLLUTION LINKED DEPOSITS PROGRAM
Section 375.205 - Board Obligations in Linked Deposits
Universal Citation: 31 TX Admin Code ยง 375.205
Current through Reg. 49, No. 38; September 20, 2024
(a) Upon execution of a linked deposit agreement by the executive administrator and an eligible lending institution, the Board, acting through its executive administrator, shall:
(1) deposit with the lending institution the
amount of funds identified in the linked deposit agreement from the CWSRF
program account; and
(2) perform
such other terms and conditions as specified in the linked deposit
agreement.
(b) The Board or the executive administrator may withdraw linked deposits and accrued interest from the lending institution without penalty according to the terms of the linked deposit agreement or if the institution ceases to be either a state depository or a Farm Credit System institution headquartered in Texas.
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