The following words and terms, when used in this chapter, shall
have the following meanings, unless the context clearly indicates
otherwise.
(1) Board--The governing body of the Texas Water Development
Board.
(2) Conservation program--A program that is:
(A) an agricultural water conservation technical assistance
program, including a program for an on-farm soil and water conservation
plan developed jointly by a landowner, an operator, and a local soil
and water conservation district as provided by Subchapter H, Chapter
201, Agriculture Code;
(B) a research, demonstration, technology transfer,
or educational program relating to agricultural water use and conservation;
(C) a precipitation enhancement program in an area
of the state where the program, in the board's judgment, would be
most effective;
(D) administered by a state agency that provides funding
to a political subdivision or person for a conservation project; or
(E) administered by a political subdivision that provides
loans to a person for a conservation project.
(3) Conservation project--A project that:
(A) improves water use efficiency of water delivery
and application on existing irrigation systems;
(B) prepares irrigated land for conversion to dryland
conditions;
(C) prepares dryland for more efficient use of natural
precipitation;
(D) purchases and installs on public or private property
devices designed to indicate the amount of water withdrawn for irrigation
purposes; or
(E) prepares and maintains land to be used for brush
control activities in areas of the state where those activities in
the board's judgment would be most effective, including activities
conducted under Chapter 203, Agriculture Code.
(4) Construction--The actual construction, alteration,
or repair of a fixed improvement to real property requiring the preparation
of plans, designs or drawings that are required to be prepared by
an professional engineer licensed in the State of Texas.
(5) Eligible cost--Costs of the capital equipment,
materials, labor, preparation, installation, or administration directly
associated with implementing and completing a conservation program
or project.
(6) Eligible lending institution--a financial institution
that makes commercial loans, is either a designated depository of
state funds by the Texas comptroller of public accounts, herein referred
to as a state depository, or an institution of the Farm Credit System
headquartered in this state, and agrees to participate in a linked
deposit program established under Water Code §17.905 and is willing
to agree to provide collateral equal to the amount of linked deposits
placed with it.
(7) Executive administrator--The executive administrator
of the Texas Water Development Board, or an authorized representative
of the executive administrator.
(8) Fund--The agricultural water conservation fund
authorized by Section 50-d, Article III, of the Texas Constitution.
(9) Linked Deposit--a deposit governed by a linked
deposit agreement between the board and an eligible lending institution
that requires that:
(A) the eligible lending institution pay interest to
the board on the deposit at a rate equal to the asking yield for a
U.S. Treasury note with a twelve-month maturity as of the date five
days preceding the submission of all the documents required of the
eligible lending institution to the executive administrator requesting
a linked deposit agreement;
(B) the state not withdraw any part of the deposit
except as according to the terms of the linked deposit agreement and
the terms of this division; and
(C) the eligible lending institution agree to lend
the value of the deposit to a person at a rate not to exceed the interest
paid by the eligible lending institution to the board plus four percent;
(10) Linked Deposit Agreement--a written agreement
between the board, acting through the executive administrator, and
an eligible lending institution providing for the deposit by the board
of an amount of money from the fund with the eligible lending institution
executed pursuant to the authority and according to the conditions
of this chapter.
(11) Person--An individual, corporation, partnership,
association, or other legal entity that is not a political subdivision.
(12) Pledged security--Means the securities authorized
by these rules and the linked deposit agreement to secure the board's
deposit of funds with the eligible lending institution.
(13) Political subdivision--Includes a municipality,
county, district or authority created under the Texas Constitution
Article III, Section 52, or Article XVI, Section 59, an institution
of higher education as defined by §61.003, Education Code, any
interstate compact commission to which the state is a party, and any
nonprofit water supply corporation created and operating under Texas
Water Code Chapter 67.
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| Source Note: The provisions of this §367.2 adopted to be effective March 9, 2004, 29 TexReg 2362; amended to be effective July 6, 2004, 29 TexReg 6348; amended to be effective May 9, 2005, 30 TexReg 2680; amended to be effective November 26, 2014, 39 TexReg 9243 |
