Texas Special District Local Laws Code 8506.201 – Loans and Grants
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Terms Used In Texas Special District Local Laws Code 8506.201
- 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;
(2) borrow money or accept a grant from 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 and to the extent provided by Sections 8506.204, 8506.205, 8506.206, 8506.207, and 8506.208.