Sec. 15.536. APPROVAL OF APPLICATIONS. On review and recommendation by the executive administrator, the board may approve an application only if the board finds that:
(1) the application and the assistance applied for meet the requirements of this subchapter and board rules;
(2) the application demonstrates a sufficient level of cooperation among eligible political subdivisions and includes all of the eligible political subdivisions substantially affected by the flood project; and
(3) the taxes or other revenue, or both the taxes and other revenue, pledged by the applicant will be sufficient to meet all the obligations assumed by the eligible political subdivision.
Added by Acts 2019, 86th Leg., R.S., Ch. 947 (S.B. 7), Sec. 2.01, eff. January 1, 2020.
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