Sec. 15.210. LIMITATION ON INSURANCE COVERAGE. (a) Except as provided by Subsection (c) of this section, the total principal balance of all insurance coverage issued by the board and outstanding may not exceed the dollar amount that equals two times the maximum amount of money that the state is authorized to pay under the program by the constitution.
(b) The board may not approve insurance coverage in any state fiscal year that exceeds a total of $100 million for all applicants.
(c) The legislature, by a two-thirds vote of each house, may change the limitations provided by Subsections (a) and (b) of this section.
Added by Acts 1985, 69th Leg., ch. 133, Sec. 2.05.
Structure Texas Statutes
Title 2 - Water Administration
Subtitle C - Water Development
Chapter 15 - Texas Water Assistance Program
Subchapter D. Water Bond Insurance Program
Section 15.202. Creation and Administration of Program
Section 15.203. Eligible Bonds
Section 15.206. Application for Insurance
Section 15.207. Considerations in Passing on Application
Section 15.208. Approval of Application
Section 15.209. Contracts, Agreements, and Other Documents
Section 15.210. Limitation on Insurance Coverage
Section 15.211. Insurance Fees
Section 15.212. Payment by State
Section 15.213. Refunding Bonds
Section 15.214. Inspection of Projects
Section 15.215. Alteration of Plans
Section 15.216. Certificate of Approval