Sec. 3906.305. USE OF MONEY. 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 Section 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.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1269 (S.B. 1922), Sec. 1, eff. June 17, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3906 - Port Isabel Improvement District No. 1
Subchapter F. Tax Increment Reinvestment Zone
Section 3906.301. District as Tax Increment Reinvestment Zone
Section 3906.302. Board; Powers
Section 3906.303. Base Year Value
Section 3906.304. Interlocal Agreements Allowed
Section 3906.305. Use of Money