31 TAC §363.505
The Texas Water Development Board (the board) adopts an amendment
to §363.505, concerning Calculation of Financial Assistance without
changes to the proposed text as published in the November 12, 1996, issue
of the
Texas Register
(21 TexReg 11070).
The amendment provides a revised methodology for determining the amount
and form of financial assistance on applications requesting an increase in
the amount of financial assistance previously provided by the Board for projects
under the Economically Distressed Areas Program. The proposed method for
determining the amount of the loan for project increases would be to determine
a grant to loan ratio based on the current Board methodology for determining
the amount and form of financial assistance, to also determine the amount
of the loan for the increase based on the grant to loan ratio originally
given for the project, and for the Board to accept the larger of the two
amounts as the amount of financial assistance to be added to the original
loan for the project. The remainder of the requested increase would be in
the form of a grant.
No comments were received regarding adoption of the amendment.
The amendment is adopted under the authority of the Texas Water Code, §6.101
and §16.342 which provides the Texas Water Development Board with the
authority to adopt rules necessary to carry out the powers and duties in
the Water Code and other laws of the State including specifically the Economically
Distressed Areas Program.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's legal authority.
Issued in Austin, Texas, on January 17, 1997.
TRD-9700788
Craig D. Pedersen
Executive Administrator
Texas Water Development Board
Effective date: February 7, 1997
Proposal publication date: November 12, 1996
For further information, please call: (512) 463-7981