Sec. 17.906. APPLICATION BY ELIGIBLE LENDING INSTITUTIONS TO PARTICIPATE IN LINKED DEPOSIT PROGRAM. To participate in the agricultural water conservation linked deposit program, an eligible lending institution must:
(1) solicit loan applications, which must contain a description of an agricultural water conservation project;
(2) review applications to determine if applicants are eligible and creditworthy; and
(3) submit the applications of eligible and creditworthy applicants to the executive administrator with a certification:
(A) of the interest rate applicable to each applicant by the eligible lending institution; and
(B) of the soil and water conservation district in which an applicant is located by a director of the district that states that:
(i) the applicant of the proposed project has a soil and water conservation plan approved by the district; and
(ii) the project furthers or implements the plan.
Added by Acts 2003, 78th Leg., ch. 200, Sec. 19(u), eff. Sept. 1, 2003; Acts 2003, 78th Leg., ch. 352, Sec. 21, eff. Sept. 1, 2003.
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