Tex.
Transp. Code Section 222.074
Form of Assistance
(a)
To further a purpose described by Section 222.073 (Purposes of Infrastructure Bank), the commission may use money deposited to the credit of the bank to provide financial assistance to a public or private entity for a qualified project to:(1)
extend credit by direct loan;(2)
provide credit enhancements;(3)
serve as a capital reserve for bond or debt instrument financing;(4)
subsidize interest rates;(5)
insure the issuance of a letter of credit or credit instrument;(6)
finance a purchase or lease agreement in connection with a transit project;(7)
provide security for bonds and other debt instruments; or(8)
provide methods of leveraging money that have been approved by the United States secretary of transportation and relate to the project for which the assistance is provided.(b)
Financial assistance to a private entity under Subsection (a) shall be limited to a qualified project that:(1)
provides transportation services or facilities that provide a demonstrated public benefit; or(2)
is constructed or operated in cooperation with a state agency or political subdivision in accordance with an agreement between that agency or political subdivision and the private entity.(c)
Financial assistance to a public or private entity under Subsection (a) shall be limited, as applicable, to a qualified project that is consistent with the transportation plan developed by the metropolitan planning organization.
Source:
Section 222.074 — Form of Assistance, https://statutes.capitol.texas.gov/Docs/TN/htm/TN.222.htm#222.074 (accessed May 4, 2024).
