| (a) An applicant, the governor and the governing body
of the applicable school district must mutually agree to enter into
an agreement for limitation on taxable value of eligible property
that includes the requisite terms in Government Code, §403.604
and §403.612.
(b) An applicant must satisfy the criteria required
to enter in a contract with the state of Texas.
(c) The agreement must be based on information from
an application that was recommended for approval by the comptroller.
(d) The agreement must comply with all applicable rules,
regulations and statutes.
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