The following words and terms, when used in this chapter, shall have the following meanings, unless the context clearly indicates otherwise.
(1) Board--The governing body of the Texas Water Development Board.
(2) Conservation program--A program that is:
(3) Conservation project--A project that:
(4) Construction--The actual construction, alteration, or repair of a fixed improvement to real property requiring the preparation of plans, designs or drawings that are required to be prepared by an professional engineer licensed in the State of Texas.
(5) Eligible cost--Costs of the capital equipment, materials, labor, preparation, installation, or administration directly associated with implementing and completing a conservation program or project.
(6) Eligible lending institution--a financial institution that makes commercial loans, is either a designated depository of state funds by the Texas comptroller of public accounts, herein referred to as a state depository, or an institution of the Farm Credit System headquartered in this state, and agrees to participate in a linked deposit program established under Water Code §17.905 and is willing to agree to provide collateral equal to the amount of linked deposits placed with it.
(7) Executive administrator--The executive administrator of the Texas Water Development Board, or an authorized representative of the executive administrator.
(8) Fund--The agricultural water conservation fund authorized by Section 50-d, Article III, of the Texas Constitution.
(9) Linked Deposit--a deposit governed by a linked deposit agreement between the board and an eligible lending institution that requires that:
(10) Linked Deposit Agreement--a written agreement between the board, acting through the executive administrator, and an eligible lending institution providing for the deposit by the board of an amount of money from the fund with the eligible lending institution executed pursuant to the authority and according to the conditions of this chapter.
(11) Person--An individual, corporation, partnership, association, or other legal entity that is not a political subdivision.
(12) Pledged security--Means the securities authorized by these rules and the linked deposit agreement to secure the board's deposit of funds with the eligible lending institution.
(13) Political subdivision--Includes a municipality, county, district or authority created under the Texas Constitution Article III, Section 52, or Article XVI, Section 59, an institution of higher education as defined by §61.003, Education Code, any interstate compact commission to which the state is a party, and any nonprofit water supply corporation created and operating under Texas Water Code Chapter 67.
Source Note: The provisions of this §367.2 adopted to be effective March 9, 2004, 29 TexReg 2362; amended to be effective July 6, 2004, 29 TexReg 6348; amended to be effective May 9, 2005, 30 TexReg 2680; amended to be effective November 26, 2014, 39 TexReg 9243