SECTION 363.1017. Administrative Cost Recovery for State Participation Program

(a) General. The board will assess fees for the purpose of recovering administrative costs from all political subdivisions with which the board agrees to participate in a state participation project under this subchapter in an amount of 0.77% of the amount of the total participation in the project by the board.

(b) Payment Method. Payment of one-third of the fee is due at closing. The balance of the fee may be paid in a limited number of annual installments with the consent of the executive administrator. The fee may not be included in the total amount of financial assistance provided by the board.

Source Note: The provisions of this §363.1017 adopted to be effective October 8, 2002, 27 TexReg 9382; amended to be effective May 6, 2003, 28 TexReg 3732; amended to be effective December 25, 2007, 32 TexReg 9721