(a) The board by resolution may approve an application if the board finds:
(1) that the public interest requires state participation in the project; and
(2) that, in its opinion, the revenue, taxes, or combination of revenue and taxes pledged by the participant will be sufficient to pay the principal of and interest on the acquired obligations until the acquired obligations are fully paid.
(b) Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(b-1) Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(c) Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(d) Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
Official text of the Texas Water Code as published by the Texas Legislative Council.