SECTION 4.5. Availability of Funds

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(a) Funds Commitment. If the project is approved by the Commission, funds become committed to the awardee subject to the sale of the general obligation bonds by the state.
(b) Letter of Commitment. The applicant will be required to submit a letter of commitment after the final approval of the project by the Commission.
(c) Upon sale of state-issued bonds, funds are disbursed to the awardee by the Comptroller of Public Accounts.

Source Note: The provisions of this §4.5 adopted to be effective October 10, 2010, 35 TexReg 9077; amended to be effective January 28, 2016, 41 TexReg 681

                    
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