SECTION 363.18. Promissory Notes and Loan Agreements with Nonprofit Water Supply Corporations

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(a) The board may provide financial assistance to corporations by either purchasing bonds issued by the corporation or by purchasing a promissory note and entering into a loan agreement with the corporation.
(b) If a corporation executes a promissory note and loan agreement with the board, the corporation may be required to engage the services of a bond counsel or a financial advisor.

Source Note: The provisions of this §363.18 adopted to be effective October 13, 1997, 22 TexReg 9892; amended to be effective December 25, 2007, 32 TexReg 9721

                    
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