Sec. 17.855. FINANCIAL ASSISTANCE BY ACQUISITION OF ACQUIRED OBLIGATIONS. (a) In an application to the board for financial assistance through the acquisition of acquired obligations, the participant shall include:
(1) the name of the participant and its principal officer or officers;
(2) a citation of the law under which the participant was created, operates, and proposes to issue its obligations to be acquired by the board;
(3) the total cost of the project;
(4) the amount of state financial assistance requested;
(5) the plan for paying the principal of and interest on its obligations to be acquired by the board; and
(6) any other information the board requires in order to perform its duties and to protect the public interest.
(b) The board may not accept an application for financial assistance unless it is submitted in writing and subscribed to in affidavit form by an official representative of the participant. The board shall prescribe the affidavit form in its rules.
(c) The board may require additional factual material from an applicant.
Added by Acts 1987, 70th Leg., ch. 420, Sec. 3, eff. June 17, 1987.
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