Sec. 53B.11. CREATION OF AUTHORITY. When the governing body of a city finds that it is to the best interest of the city and its inhabitants to create a higher education loan authority, it shall pass an ordinance creating the authority and designating the name by which it shall be known. If the governing bodies of two or more cities find that it is to the best interest of the cities to create an authority to include those cities, each governing body shall pass an ordinance creating the authority and designating the name by which it shall be known.
Added by Acts 2005, 79th Leg., Ch. 641 (H.B. 2701), Sec. 2, eff. September 1, 2005.
Structure Texas Statutes
Subtitle A - Higher Education in General
Chapter 53B - Higher Education Loan Authorities
Subchapter B. Administrative Provisions
Section 53B.11. Creation of Authority
Section 53B.13. Corporate Powers
Section 53B.131. Authority's Earnings
Section 53B.14. Board of Directors
Section 53B.15. Organization of Board; Quorum; Employees; Counsel