SECTION 5.83. General Policies

(a) Consideration of all applications for private activity bond issuance will be in accordance with applicable federal and state law, and applicable rules and regulations.

(b) The federal government shall not be obligated by any act of the commission or department under this subchapter.

(c) Favorable consideration of any application for private activity bond issuance does not pledge the credit of the state, commission, or department.

(d) The Federal Highway Administration, the Comptroller General of the United States, the Texas State Auditor's Office, and the department, or any of their authorized representatives, shall have the right of access to any books, documents, papers, or other records of an applicant approved for an allocation that are pertinent to the application, in order to make audits, examinations, excerpts, and transcripts.

Source Note: The provisions of this §5.83 adopted to be effective June 14, 2007, 32 TexReg 3371