Texas Administrative Code › Title 30 - ENVIRONMENTAL QUALITY › Part 1 - TEXAS COMMISSION ON ENVIRONMENTAL QUALITY › Chapter 293 - WATER DISTRICTS › Subchapter E - ISSUANCE OF BONDS › Section 293.42 - Submitting of Documents and Order of Review

Current through Reg. 49, No. 28; July 12, 2024
(a) Applicants shall submit all of the
				  required data at one time in one package. Applications may be returned for
				  completion if they do not satisfy the requirements and conform to the bond
				  application report format.
(b)
				  Applicants may qualify for an expedited review which entitles them to a
				  commitment from staff to have a completed memorandum to the commission within
				  60 calendar days following submission of the application. In order to qualify
				  for this expedited review, the applicant must submit a bond application that
				  complies with §
										293.43
				  of this title (relating to Application Requirements). The district's bond
				  counsel, engineer, and financial advisor must also sign a certificate which is
				  worded as shown on the form provided by the executive director. The certificate
				  must state that the district's bond counsel, engineer, and financial advisor
				  have reviewed the bond application, that the application is accurate and
				  complete, that the application includes specific documents identified on the
				  form, and that the district's financial status has reached the thresholds
				  provided in §
										293.59
				  of this title (relating to Economic Feasibility of Project) as shown by its
				  existing assessed valuation and completion of facilities. If the executive
				  director finds the documentation to be insufficient, the application will not
				  be expedited and an administrative review letter will be sent. A bond applicant
				  that seeks conditional approval on the basis of receiving an acceptable credit
				  rating or credit enhanced rating as provided in §293.47(b)(4) and (5) and
				  (c) of this title (relating to Thirty Percent of District Construction Costs To
				  Be Paid by Developer) may qualify for expedited review. A bond applicant that
				  seeks approval on the basis of a ratio of debt to certified assessed valuation
				  of 10% or less must provide evidence of that ratio as provided in §
										293.47(b)(3)
				  of this title to qualify for the expedited review.
(c) Applicants may qualify for an expedited
				  review which entitles them to a commitment from staff to have a completed
				  memorandum to the commission within 45 calendar days following submission of
				  the application. If the executive director finds the documentation to be
				  insufficient, the application will not be expedited and an administrative
				  review letter will be sent. In order to qualify for this expedited review, the
				  applicant must submit a bond application that includes all of the items listed
				  in §
										293.43
				  of this title and the following:
(1) a
				  certificate signed by the district's president, engineer, financial advisor,
				  and bond counsel, which is worded as shown on the form provided by the
				  executive director, which states that less than 20% of the total land area in
				  the district is undeveloped with underground facilities, that the facilities
				  contained in the bond application are for water plant facilities, wastewater
				  treatment plant facilities, major lines to or between such facilities, remote
				  water wells, or for any improvement necessary to serve development in the
				  district as described in §
											293.83(c)(3)
				  of this title (relating to District Use of Surplus Funds for any Purpose and
				  Use of Maintenance Tax Revenue for Certain Purposes), that no funds are being
				  expended for developer facilities as described in §
											293.47(d)
				  of this title and no funds are being used to reimburse a developer as described
				  in Texas Water Code, §
											49.052(d),
				  that the district expects to have a no-growth tax rate of $0.75 or less
				  calculated in accordance with §
											293.59(d)
				  of this title after issuance of the proposed bonds, and that the district is
				  legally authorized to issue the bonds;
(2) a debt service schedule and related cash
				  flow schedule showing a no-growth tax rate as defined in §
											293.59(d)
				  of this title of $0.75 or less; and
(3) a certificate of assessed valuation or
				  estimated assessed valuation as defined by §
											293.59(d)
				  of this title reflecting a value sufficient to support the no-growth tax rate
				  in paragraph (2) of this subsection.