Texas Local Government Code 394.005 – Application of Chapter to Property in Certain Municipalities
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Terms Used In Texas Local Government Code 394.005
- 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.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Property: means real and personal property. See Texas Government Code 311.005
This chapter does not apply to property located within a municipality with more than 20,000 inhabitants as determined by the housing finance corporation‘s rules, resolutions relating to the issuance of bonds, or financing documents relating to the issuance of bonds, unless the governing body of the municipality approves the application of the chapter to that property.