| (a) Basic application. An eligible entity must submit
an application to the executive director in a form prescribed by the
department. The application must be accompanied by:
(1) an overview of the project, including a description
of the project, the total estimated cost of the project, and the proposed
use of the requested financial assistance;
(2) the amount of money required to supply the requested
assistance, including any reserve funds that must be established and
held by the bank for the applicant's benefit, but that may not be
expended from the bank;
(3) any proposed pledge of collateral or security and
any prior claim to those items;
(4) a description of the need for the project and its
potential effect on traffic congestion and mobility;
(5) the most recent offering document for any outstanding
debt of the applicant payable from the revenue proposed to be used
to repay the financial assistance, along with the financial documents
related to that debt, including any master and supplemental resolutions,
indentures of trust, and authorizing resolutions, ordinances, or orders,
unless previously provided, or if not applicable, other evidence of
creditworthiness, provided that the entity may provide any of the
information described by this paragraph electronically;
(6) official written approval of the project by the
governing body of each entity that may become liable for repayment
of any financial assistance;
(7) a binding commitment that the environmental consequences
of the proposed project will be fully considered, and that the proposed
project will comply with all applicable local, state, and federal
environmental laws, regulations, and requirements;
(8) for public roadway projects, a preliminary design
study, including:
(A) an initial route and potential alignments; and
(B) revisions or changes to state highway system facilities
necessitated by the project; and
(9) for transit projects, a preliminary scope study,
including preliminary layouts, architectural drawings, equipment specifications,
and other information necessary to describe the project fully and
to comply with all requirements of the Federal Transit Administration.
(b) Supplemental information and data. Except as provided
in subsection (c) of this section, the applicant shall submit the
supplemental information and data required by this subsection.
(1) Financial feasibility study. The applicant shall
submit a financial feasibility study that includes:
(A) a project construction or asset acquisition schedule
identifying the timing, amount, and source of all funds required;
(B) an analysis of the expected financing period of
the project;
(C) a pro forma annual cash flow analysis for the expected
financing period of the project showing:
(i) anticipated revenues to be used in repayment by
source, including a preliminary traffic and revenue study, acceptable
to the executive director, for toll roads;
(ii) anticipated disbursements for preliminary studies
and engineering, construction, EPIC, right of way acquisition, utility
adjustments, operations, and maintenance;
(iii) funds used to meet the requirements of any sinking
funds, reserve funds, and amortization payments; and
(iv) loan (debt service) coverage ratios and associated
cash flow surpluses or deficits;
(D) a description of the methods used in preparing
the financial feasibility study, the assumptions contained in the
study, and persons responsible for the preparation of the study;
(E) the length of time the amounts will be outstanding
or obligated;
(F) the anticipated interest rates applicable during
the term of the financial assistance;
(G) any interest rate subsidies requested by:
(i) an economically disadvantaged county, as defined
in Transportation Code, §222.053;
(ii) a city located wholly or partially within an economically
disadvantaged county; or
(iii) another public entity within whose boundary is
at least one entire disadvantaged county;
(H) the expected savings to the applicant resulting
from the assistance; and
(I) a description of how the requested assistance will:
(i) expand the availability of funding for transportation
projects;
(ii) reduce direct state costs;
(iii) maximize private and local participation in financing
projects;
(iv) improve the efficiency of the state's transportation
systems; and
(v) accelerate the project's transportation benefits
over conventional financing methods.
(2) Other financial information. The applicant shall
submit the following information, if the information is not provided
with the feasibility study:
(A) the applicant's most recent annual budget;
(B) the five most recent comprehensive financial reports
or audits of the applicant;
(C) the current capital planning document that addresses
uses of the revenue proposed to be used for repayment of the financial
assistance; and
(D) the most recent rating agency report on the credit
of the applicant, if any.
(3) Project impacts. The applicant shall submit:
(A) information explaining how the project will be
consistent with the Statewide Transportation Plan and, if appropriate,
with the metropolitan transportation plan developed by an MPO;
(B) if the project is in a Clean Air Act non-attainment
area, information explaining how the project will be consistent with
the Statewide Transportation Improvement Program, with the conforming
plan and Transportation Improvement Program for the MPO in which the
project is located (if necessary), and with the State Implementation
Plan;
(C) a preliminary identification of any known environmental,
social, economic, or cultural resource issues, such as hazardous material
sites, impacts on wetlands and other water resources, endangered species,
parks, neighborhoods, businesses, historic buildings or bridges, and
archeological sites; and
(D) an explanation of the status of obtaining an environmental
approval under Chapter 2 (relating to Environmental Review of Transportation
Projects) and of obtaining any other required environmental permits.
(c) Waiver of required information or data. The executive
director may waive submission of any individual item of information
or data required by this section under either of the following circumstances:
(1) the information or data is not relevant to the
project, applicant, or financial assistance requested (in determining
the relevance of supplemental information and data, the executive
director will consider the complexity and size of the project, the
type of infrastructure or asset involved, the type and complexity
of financial assistance requested, the complexity of the project's
and the applicant's financial status, and how soon transportation
benefits will begin); or
(2) the department already possesses information or
data in a format that can be substituted for the required information
or data.
(d) Requirement of additional information. The executive
director may require the applicant to submit explanations and expansions
of information or data required by this section. In determining when
additional relevant explanations and expansions of information or
data will be required, the executive director will consider the complexity
and size of the project, the type of infrastructure or asset involved,
the type, complexity, and amount of financial assistance requested,
and the complexity of the project's and the applicant's financial
status.
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