Texas Water Code 15.913 – Approval of Application
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Terms Used In Texas Water Code 15.913
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
The board by resolution may approve an application for a loan or grant if, after considering the factors listed in § 15.912 and any other relevant factors, the board finds that:
(1) the public interest requires state participation in the project; and
(2) the revenue or taxes pledged by the political subdivision or water supply corporation will be sufficient to meet all the obligations assumed by the subdivision or corporation during the period of any loan provided by the board.