(a) The executive administrator shall submit the application to the board with comments concerning financial assistance. The application will be scheduled on the agenda for board consideration at the earliest practical date. The applicant and other interested parties known to the board shall be notified of the time and place of such meeting.
  (1) If the applicant has received an obligation of federal funds by the United States Department of Agriculture-Rural Development that would duplicate funding from the board for the same project, as evidenced in writing from the United States Department of Agriculture-Rural Development, or if the applicant has canceled such an obligation, the executive administrator shall not submit the application to the board and shall notify the applicant that its application will no longer be considered for this reason, unless good cause is shown that the application should be submitted to the board.
  (2) Board staff may coordinate its review of an application submitted under this subchapter with a federal agency to avoid duplication of efforts and costs.
(b) In passing on an application for financial assistance, the board shall consider:
  (1) the needs of the area to be served by the project, the benefit of the project to the area, the relationship of the project to the overall state water needs, and the relationship of the project to the state water plan; and
  (2) the availability of revenue to the rural political subdivision from all sources for the ultimate repayment of the cost of the water supply project, including all loan interest.

Source Note: The provisions of this §365.24 adopted to be effective January 1, 2002, 26 TexReg 11031; amended to be effective April 28, 2011, 36 TexReg 2612; amended to be effective November 30, 2011, 36 TexReg 8036; transferred effective February 15, 2020, as published in the January 24, 2020 issue of the Texas Register, 45 TexReg 593