Texas Special District Local Laws Code 3838.106 – Economic Development Programs
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(a) The district may establish and provide for the administration of one or more programs to promote state or local economic development and to stimulate business and commercial activity in the district, including programs to:
(1) make loans and grants of public money, including bond proceeds; and
(2) provide district personnel and services.
(b) District improvements qualify as projects for funding by an economic development corporation.
Terms Used In Texas Special District Local Laws Code 3838.106
- 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.
(c) For purposes of this section, the district has all of the powers of a municipality under Chapter 380, Local Government Code.
(d) The district is eligible to receive grants from a municipality under Chapter 380, Local Government Code.