(a) On review and recommendation by the executive administrator, the board by resolution may approve an application if the board finds that:
(1) the application and the assistance applied for meet the requirements of this subchapter, § 16.4021, and board rules;
(2) the revenue or taxes, or both the revenue and taxes, pledged by the applicant will be sufficient to meet all the obligations assumed by the political subdivision; and
(3) the project will meet water needs in a manner consistent with the state and regional water plans as required by § 16.053(j), unless otherwise specified by an act of the legislature.
(b) Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(5), eff. September 1, 2019.

(c) The board may deliver funds for the part of a loan or grant for a project relating to surface water development, other than for planning and design costs, permitting costs, and other costs associated with federal and state regulatory activities with respect to a project, only if the executive administrator makes a written finding that the applicant:
(1) has the necessary water rights authorizing the applicant to appropriate and use the water that the project will provide, if the applicant is proposing surface water development; or
(2) has the right to use water that the project will provide, if the applicant is proposing groundwater development.
(d) The board may not approve an application if the applicant has failed to satisfactorily complete a request by the executive administrator or a regional planning group for information relevant to the project.