(a) In addition to any other method of providing financial assistance authorized by
this subchapter, the board may make financial assistance available to an applicant
that is a nonprofit water supply or sewer service corporation by entering into a loan
agreement with the applicant.
(b) To be eligible to receive financial assistance under this section, the applicant
(1) execute a promissory note for the full amount of the loan; and
(2) provide to the board an attorney's opinion stating that the applicant has the
authority to incur the debt.
(c) An applicant for financial assistance under this section is not required to appoint
FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature or via Westlaw before relying on it for your legal needs.
Was this helpful?
Response sent, thank you
Welcome to FindLaw's Cases & Codes
A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw's Learn About the Law.