(a) The board may use the fund for financial assistance as follows:
  (1) to make loans to political subdivisions at or below market interest rates for projects; and
  (2) to make loans to political subdivisions at or below market interest rates for planning and design costs, permitting costs, and other costs associated with state or federal regulatory activities with respect to a project.
(b) The board may make funding available under subsection (a) of this section only for implementation of projects which are recommended water management strategies in a board-approved regional water plan adopted pursuant to Texas Water Code, §16.053 or in the water plan adopted pursuant to Texas Water Code, §16.051.

Source Note: The provisions of this §363.1203 adopted to be effective December 25, 2007, 32 TexReg 9721