Sections
Subchapter A General Provisions 505.001 – 505.005
Subchapter B Governance of Corporation 505.051 – 505.056
Subchapter C Powers and Duties 505.101 – 505.106
Subchapter D Authorized Projects 505.151 – 505.161
Subchapter E Sports Venue Projects and Related Infrastructure 505.201 – 505.206
Subchapter F Sales and Use Tax 505.251 – 505.259
Subchapter G Use of Tax Proceeds 505.301 – 505.305
Subchapter H Termination of Corporation 505.351 – 505.355

Terms Used In Texas Local Government Code Chapter 505 - Type B Corporations

  • Appraisal: A determination of property value.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
  • 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.
  • Damages: Money paid by defendants to successful plaintiffs in civil cases to compensate the plaintiffs for their injuries.
  • Department: means the Department of Agriculture. See Texas Agriculture Code 1.003
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
  • Personal property: All property that is not real property.
  • Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
  • Quorum: The number of legislators that must be present to do business.
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
  • Trust account: A general term that covers all types of accounts in a trust department, such as estates, guardianships, and agencies. Source: OCC
  • United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
  • Venue: The geographical location in which a case is tried.
  • Week: means seven consecutive days. See Texas Government Code 311.005