SECTION 363.714. Findings Required

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The board, by resolution, may approve an application for an emergency loan if the board finds:
(1) that an emergency exists;
(2) that the political subdivision cannot finance the project without state assistance;
(3) that in its opinion the revenue or taxes pledged by the political subdivision will be sufficient to meet all the obligations assumed by the political subdivision; and
(4) that the public interest requires state participation in the project.

Source Note: The provisions of this §363.714 adopted to be effective August 8, 1996, 21 TexReg 7265.

                    
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