Sec. 21.105. REQUIREMENTS FOR LOAN OR GRANT. (a) The commission may not approve a loan that bears interest of less than three percent annually or that has a term that exceeds 20 years.
(b) Before approving a loan or grant, the commission shall require that:
(1) the airport or facility remain in the control of each political subdivision involved for at least 20 years;
(2) the political subdivision disclose the source of all funds for the project and the political subdivision's ability to finance and operate the project;
(3) at least 10 percent of the total project cost be provided by sources other than the state; and
(4) the project be adequately planned.
Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.
Structure Texas Statutes
Chapter 21 - Administration of Aeronautics
Subchapter C. Aviation Facilities Development and Financial Assistance
Section 21.101. Financial Assistance for Construction and Repair of Aviation Facilities
Section 21.102. Loan Preferred
Section 21.103. Commission Vote Required for Grant or Loan
Section 21.104. Revolving Loan Fund
Section 21.105. Requirements for Loan or Grant
Section 21.106. Priorities for Financial Assistance
Section 21.107. Aviation Facilities Development Program
Section 21.108. Aviation Facilities Capital Improvement Program
Section 21.109. Review and Revision of Aviation Facilities Capital Improvement Program
Section 21.110. Aviation Facilities Capital Improvement Program; Budget Preparation
Section 21.111. Public Hearing
Section 21.1115. Emergency Loan or Grant
Section 21.112. Expenditure of Air Facility Construction Money by State Governmental Entities
Section 21.113. Airport Hazard Zoning Ordinance Required
Section 21.114. Agent for Federal Funds
Section 21.115. Funding for Certain Commercial Service Airports