GroundRules
Tex. Local Government Code § 501.155: LOAN TO FINANCE PROJECT.
Where this section sits in the code
- LOCAL GOVERNMENT CODE
- TITLE 12. PLANNING AND DEVELOPMENT
- SUBTITLE C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT
- CHAPTER 501. PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS
- SUBCHAPTER D. CORPORATE POWERS AND LIMITATIONS RELATING TO PROJECTS
(a) A corporation may make a secured or unsecured loan to a user for the purpose of providing temporary or permanent financing or refinancing of all or part of the cost of a project, including the refunding of an outstanding obligation, mortgage, or advance issued, made, or given by a person for the cost of a project.
(b) For a loan made under this section, a corporation may charge and collect interest on the terms the corporation's board of directors considers advisable and not in conflict with this subtitle.
Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April 1, 2009.
Collected 2026-08-27T01:47:27Z. Source file · JSON