Sec. 393.008. LOANS TO HOUSING AUTHORITY. (a) When a housing authority that is created for a municipality becomes operative, the governing body of the municipality shall immediately estimate the amount necessary for the administrative expenses and overhead of the housing authority during its first year of operation. The governing body shall appropriate that amount to the authority from money in the municipal treasury that is not appropriated for other purposes. The governing body shall pay that amount to the housing authority as a loan.
(b) Any municipality located wholly or partly within the area of operation of a housing authority may lend or agree to lend money to the housing authority at any time.
(c) The housing authority shall repay loans made to it under this section when it has money available for repayment.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 12 - Planning and Development
Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government
Section 393.002. Legislative Findings; Purpose
Section 393.004. Powers of Public Body Relating to Housing Projects
Section 393.005. Restriction on Certain Housing Project Changes
Section 393.006. Payment of Expenses; Conveyance Powers
Section 393.007. Payment Contracts
Section 393.008. Loans to Housing Authority
Section 393.009. Powers Authorized by Resolution
Section 393.010. Notice of Proposed Action; Petition; Election