Texas Government Code 1505.104 – Authority to Borrow Money
Current as of: 2024 | Check for updates
|
Other versions
(a) In the amount and under the terms that are agreed to by the municipality and the lender, a municipality may borrow money for a project from:
(1) the United States;
(2) an agency of the United States authorized to make a loan to a municipality; or
(3) any person, firm, or corporation.
(b) The loan shall be evidenced by obligations issued under this subchapter if the project is financed under this subchapter.
Terms Used In Texas Government Code 1505.104
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005