Texas Special District Local Laws Code 3846.101 – General Powers of District
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Terms Used In Texas Special District Local Laws Code 3846.101
- 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.
The district has:
(1) all powers necessary or required to accomplish the purposes for which the district was created;
(2) the rights, powers, privileges, and other functions of a municipal management district under Subchapter E, Chapter 375, Local Government Code; and
(3) the powers given to an industrial development corporation organized under the Development Corporation Act of 1979 (Article 5190.6, Vernon’s Texas Civil Statutes).