Sec. 501.006. USE OF CORPORATION TO FINANCE PROJECT. A unit may use a corporation to issue bonds on the unit's behalf to finance the cost of a project, including a project in a federally designated empowerment zone or enterprise community or in an enterprise zone designated under Chapter 2303, Government Code, to promote and develop new and expanded business enterprises for the promotion and encouragement of employment and the public welfare.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Structure Texas Statutes
Title 12 - Planning and Development
Chapter 501 - Provisions Governing Development Corporations
Subchapter A. General Provisions
Section 501.003. Who May Be User
Section 501.004. Legislative Findings; Construction of Subtitle
Section 501.005. Adoption of Alternate Procedure
Section 501.006. Use of Corporation to Finance Project
Section 501.007. Lending Credit or Granting Public Money
Section 501.008. Limitation on Financial Obligation
Section 501.009. Police Powers Not Affected
Section 501.010. Delegation of Unit's Sovereign Powers Prohibited
Section 501.011. Reference to Articles of Incorporation or Certificate of Formation