Texas Special District Local Laws Code 3906.305 – Use of Money
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Terms Used In Texas Special District Local Laws Code 3906.305
- 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 may grant money deposited in the tax increment fund to the district to be used by the district for the purposes permitted for money granted to a corporation under § 380.002(b), Local Government Code, including the right to pledge the money as security for any bonds issued by the district for an improvement project.