Sec. 15.607.  APPROVAL OF APPLICATION.  On review of recommendations by the executive administrator, the board by resolution may approve an application if the board finds that in its opinion the revenue or taxes or both revenue and taxes pledged by the applicant will be sufficient to meet all the obligations assumed by the applicant and that the application and assistance applied for meet the requirements of the federal act and state law, including Section 16.4021. 
Added by Acts 1987, 70th Leg., ch. 420, Sec. 1, eff. June 17, 1987.  Amended by Acts 2001, 77th Leg., ch. 966, Sec. 4.16, eff. Sept. 1, 2001.
Amended by: 
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 4, eff. September 1, 2019.