Texas Water Code

§ 15.534 — USE OF INFRASTRUCTURE FUND

WA § 15.534Title 2. WATER ADMINISTRATION · Part C. WATER DEVELOPMENT · Ch. 15. TEXAS WATER ASSISTANCE PROGRAM · Art. I. FLOOD INFRASTRUCTURE FUND

Statute text

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(a)The board may use the infrastructure fund only:

(1)to make a loan to an eligible political subdivision at or below market interest rates for a flood project;

(2)to make a grant or loan at or below market interest rates to an eligible political subdivision for a flood project to serve a rural political subdivision in order to ensure that the flood project is implemented;

(3)to make a loan at or below market interest rates for planning and design costs, permitting costs, and other costs associated with state or federal regulatory activities with respect to a flood project;

(4)to make a grant to an eligible political subdivision to provide matching funds to enable the eligible political subdivision to participate in a federal program for a flood project;

(5)to make a grant to an eligible political subdivision for a flood project if the board determines that the eligible political subdivision does not have the ability to repay a loan;

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Legislative history

Acts 2023, 88th Leg., R.S., Ch. 607 (H.B. 3582), Sec. 2, eff. September 1, 2023.