Texas Special District Local Laws Code 5012.0153 – Authority to Borrow Money, Accept Grants, and Issue Associated Revenue Bonds
Current as of: 2024 | Check for updates
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Terms Used In Texas Special District Local Laws Code 5012.0153
- 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.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The authority may:
(1) borrow money for the authority’s corporate purposes consistent with the constitution, this chapter, and Chapters 60-63, Water Code;
(2) borrow money or accept a grant from the United States or from a corporation or agency created or designated by the United States and, in connection with the loan or grant, enter into any agreement the United States or the corporation or agency may require; and
(3) make and issue bonds for money borrowed, in the manner provided by this chapter.