Section 15.203 - Eligible Bonds(a) Only revenue, general obligation, tax, or combination bonds issued by a political subdivision or a water supply corporation for a project qualifying for assistance under this subchapter and board rules are eligible to be insured under the program.(b) Bonds issued for a term longer than 50 years are not eligible to be insured under the program.Added by Acts 1985, 69th Leg., ch. 133, Sec. 2.05.