Sec. 17.857.  APPROVAL OF APPLICATION.  (a)  The board by resolution may approve an application if the board finds:
(1)  that the public interest requires state participation in the project;  and
(2)  that, in its opinion, the revenue, taxes, or combination of revenue and taxes pledged by the participant will be sufficient to pay the principal of and interest on the acquired obligations until the acquired obligations are fully paid.
(b)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(b-1)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(c)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
(d)  Repealed by Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.  Amended by Acts 2003, 78th Leg., ch. 688, Sec. 5, eff. June 20, 2003.
Amended by: 
Acts 2019, 86th Leg., R.S., Ch. 886 (H.B. 3339), Sec. 16(10), eff. September 1, 2019.