Texas Register, Volume 37, Number 30, Pages 5519-5676, July 27, 2012 Page: 5,612
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(b) Approval of engineering feasibility report. The executive
administrator will approve the engineering feasibility report when:
(1) the items listed in subsection (a) of this section have
been completed, including requests for additional information or data;
(2) the appropriate environmental determinations have
been completed in accordance with this chapter and the Applicant has
agreed to incorporate into project documents, including contracts, all
mitigation measures as a result of the environmental review; and
(3) the project and alternatives to the project have been an-
alyzed and the proposed project is cost effective.
(c) Request for project amendment. A request for an amend-
ment, after the approval of the engineering feasibility report, to a
project shall be granted only if implementation of the amendment does
not affect the original purpose of the project. The implementation of
a project amendment must remedy the problems and issues identified
in the Applicant's original project information form. Significant
amendments to a project require previous approval by the executive
administrator. The Applicant shall:
(1) provide a description of and the need for an amend-
ment;
(2) submit additional engineering or environmental infor-
mation as requested by the executive administrator;
(3) provide an estimate of any increase or decrease in total
project costs resulting from the proposed amendment; and
(4) certify that the proposed amendment will not signifi-
cantly alter the purpose of the project.
(d) Alternative methods of project delivery. Design build,
construction manager at-risk and other alternative methods of project
delivery are eligible for available financial assistance, including
combinations of planning, design and construction funding, in accor-
dance with programmatic requirements. The executive administrator
will provide written guidance regarding modifications of the type of
financial assistance, and the review, approval and release of funds
processes for alternative delivery projects. The Board may specify
special conditions in the commitment as appropriate to accommodate
an alternative method of project delivery.
This agency hereby certifies that the adoption has been reviewed
by legal counsel and found to be a valid exercise of the agency's
legal authority.
Filed with the Office of the Secretary of State on July 10, 2012.
TRD-201203549
Kenneth L. Petersen
General Counsel
Texas Water Development Board
Effective date: July 30, 2012
Proposal publication date: June 1, 2012
For further information, please call: (512) 463-8061
SUBCHAPTER G. LOAN CLOSINGS AND
AVAILABILITY OF FUNDS
31 TAC 371.70 - 371.73
STATUTORY AUTHORITY
The amendments are adopted under the authority of Water Code
6.101, which provides the TWDB with the authority to adoptrules necessary to carry out the powers and duties in the Water
Code and other laws of the State, and also under the authority
of Water Code 15.6041.
This rulemaking affects Water Code, Chapter 15.
371.70. Financial Assistance Secured by Bonds or Other Authorized
Securities.
(a) Applicability and required documents. This section applies
to closings for financial assistance with entities issuing bonds or other
authorized securities. The following documents are required for clos-
ing financial assistance secured by bonds or other authorized securities:
(1) evidence that applicable requirements and regulations
of all identified local, state and federal agencies having jurisdiction
have been met, including but not limited to permits and authorizations;
(2) a certified copy of the ordinance or resolution adopted
by the governing body authorizing the issuance of debt to be sold to the
Board that is acceptable to the executive administrator. The ordinance
or resolution shall have sections providing as follows:
(A) if financial assistance proceeds are to be deposited
into an escrow account at the time of closing then an escrow account
shall be created that shall be separate from all other accounts and funds,
as follows:
(i) the account shall be maintained by an escrow
agent as defined in 371.1 of this title (relating to Definitions);
(ii) funds shall not be released from the escrow ac-
count without prior written approval from the executive administrator
who shall issue written authorization for the release of funds;
(iii) upon request of the executive administrator, es-
crow account statements shall be provided to the executive administra-
tor;
(iv) the investment of any financial assistance pro-
ceeds deposited into an approved escrow account shall be handled in a
manner that complies with the Public Funds Investment Act, Govern-
ment Code, Chapter 2256; and
(v) the escrow account shall be adequately collater-
alized in a manner sufficient to protect the Board's interest in the project
and that complies with the Public Funds Collateral Act, Government
Code, Chapter 2257;
(B) that the Applicant shall fix and maintain rates, in
accordance with state law, and collect charges to provide adequate op-
eration and maintenance of the project;
(C) that a construction account shall be created which
shall be kept separate from all other accounts and funds of the Appli-
cant;
(D) that bonds shall be closed in book-entry-only form;
(E) the use of a paying agent/registrar that is a Deposi-
tory Trust Company (DTC) participant;
(F) that the payment of all DTC closing fees assessed by
the Board's custodian bank be directed to the Board's custodian bank
by the Applicant;
(G) evidence that one fully registered bond has been
sent to the DTC or to the Applicant's paying agent/registrar prior to
closing;
(H) that all payments are made to the Board via wire
transfer at no cost to the Board;37 TexReg 5612 July 27, 2012 Texas Register
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Texas. Secretary of State. Texas Register, Volume 37, Number 30, Pages 5519-5676, July 27, 2012, periodical, July 27, 2012; Austin, Texas. (https://texashistory.unt.edu/ark:/67531/metapth243959/m1/92/: accessed March 19, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.