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TITLE 31NATURAL RESOURCES AND CONSERVATION
PART 10TEXAS WATER DEVELOPMENT BOARD
CHAPTER 365RURAL WATER ASSISTANCE FUND
SUBCHAPTER CCLOSING AND RELEASE OF FUNDS
RULE §365.44Loan Agreements for Nonprofit Water Supply or Sewer Service Corporations
(a) The board may provide financial assistance to an applicant that is a nonprofit water supply or sewer service corporation by entering into a loan agreement with the nonprofit water supply or sewer service corporation.

 (b) In addition to executing a loan agreement, the applicant must execute a promissory note in the full amount of the loan.

 (c) An applicant which utilizes the loan agreement option is not required to engage the services of a bond counsel or a financial advisor.

 (d) The applicant must provide the board with an attorney's opinion as to the authority of the rural political subdivision to incur the debt.
Source Note: The provisions of this §365.44 adopted to be effective January 1, 2002, 26 TexReg 11031; amended to be effective November 30, 2011, 36 TexReg 8036; transferred effective February 15, 2020, as published in the January 24, 2020 issue of the Texas Register, 45 TexReg 593

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