Sec. 501.201. AUTHORITY TO ISSUE BONDS. (a) A corporation may issue bonds to defray all or part of the cost of a project, regardless of whether the bonds are wholly or partly exempt from federal income taxation.
(b) Except as limited by this subtitle or rules and guidelines of the economic development office, a corporation has full authority with respect to bonds.
(c) Except as otherwise provided by this subtitle, a corporation may issue bonds under this subtitle without obtaining the consent or approval of any department, division, or agency of this state, other than the attorney general under Chapter 1202, Government Code.
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 E. Corporate Powers and Limitations Relating to Bonds
Section 501.201. Authority to Issue Bonds
Section 501.203. Securities Commissioner Permit to Sell Securities Required
Section 501.204. Authorizing Unit's Approval of Bonds
Section 501.205. Bond Counsel and Financial Advisors
Section 501.206. Money Used to Pay Bonds
Section 501.207. Bonds Not Debt of State or Authorizing Unit
Section 501.208. Bond Security; Default
Section 501.209. Trust Agreement
Section 501.210. Financial Assurance or Responsibility Requirements for Certain Projects
Section 501.211. Use of Bond Proceeds
Section 501.212. Interim Bonds