Sec. 21.105.  REQUIREMENTS FOR LOAN OR GRANT.  (a)  The commission may not approve a loan that bears interest of less than three percent annually or that has a term that exceeds 20 years.
(b)  Before approving a loan or grant, the commission shall require that:
(1)  the airport or facility remain in the control of each political subdivision involved for at least 20 years;
(2)  the political subdivision disclose the source of all funds for the project and the political subdivision's ability to finance and operate the project;
(3)  at least 10 percent of the total project cost be provided by sources other than the state;  and
(4)  the project be adequately planned.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.