Sec. 362.017. INDUSTRIAL DEVELOPMENT CORPORATION. (a) A public agency that has entered into a contract under Section 362.014 may sponsor the creation of an industrial development corporation under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code).
(b) The corporation may issue bonds, notes, or other evidences of indebtedness under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code) to finance the cost of a system under the contract regardless of whether the system is located within the boundaries of the public agency.
Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. Sept. 1, 1989.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.15, eff. April 1, 2009.
Structure Texas Statutes
Title 5 - Sanitation and Environmental Quality
Subtitle B - Solid Waste, Toxic Chemicals, Sewage, Litter, and Water
Chapter 362 - Solid Waste Resource Recovery Financing Act
Subchapter B. Operation of System
Section 362.011. Authority to Acquire and Transfer Property
Section 362.012. Location of System
Section 362.013. Contract Terms and Procedures
Section 362.014. Public Agency Contract
Section 362.015. Payment of Contract From Sources Other Than Taxes
Section 362.016. Payment of Contract From Taxes
Section 362.017. Industrial Development Corporation