{"data":{"id":"us-tx/tex.-local-government-code-303.021","jurisdiction":"us-tx","citation":"Tex. Local Government Code § 303.021","heading":"AUTHORITY TO CREATE.","body":"(a) A sponsor may create one or more nonmember, nonstock, nonprofit public facility corporations to:\n(1) issue bonds under this chapter, including bonds to purchase sponsor obligations;\n(2) finance public facilities on behalf of its sponsor; or\n(3) loan the proceeds of the obligations to other entities to accomplish the purposes of the sponsor.\n(b) A sponsor may use the corporation to:\n(1) acquire, construct, rehabilitate, renovate, repair, equip, furnish, or place in service public facilities; or\n(2) issue bonds on the sponsor's behalf to finance the costs of the public facilities.\n(c) A corporation created under this chapter must remain a public facility corporation under this chapter.\n(d) A corporation or a sponsor may finance, own, or operate a multifamily residential development only if:\n(1) the corporation or sponsor complies with all applicable provisions of this chapter; and\n(2) the development is located:\n(A) inside the area of operation of the sponsor, if the sponsor is a housing authority; or\n(B) if the sponsor is not a housing authority, inside the boundaries of the sponsor, without regard to whether the sponsor is authorized to own property or provide services outside the boundaries of the sponsor.\nAdded by Acts 1999, 76th Leg., ch. 227, Sec. 11, eff. Sept. 1, 1999.\nAmended by:\nActs 2015, 84th Leg., R.S., Ch. 488 (H.B. 2679), Sec. 3, eff. June 16, 2015.\nActs 2021, 87th Leg., R.S., Ch. 526 (S.B. 1942), Sec. 1, eff. June 14, 2021.\nActs 2023, 88th Leg., R.S., Ch. 1169 (H.B. 2071), Sec. 1, eff. June 18, 2023.","path":["LOCAL GOVERNMENT CODE","TITLE 9. PUBLIC BUILDINGS AND GROUNDS","SUBTITLE C. PUBLIC BUILDING PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT","CHAPTER 303. PUBLIC FACILITY CORPORATIONS","SUBCHAPTER B. CREATION AND OPERATION OF PUBLIC FACILITY CORPORATION"],"source_url":"https://statutes.capitol.texas.gov/Docs/LG/htm/LG.303.htm#303.021","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:27Z","sha256":"d240e470364d1332246d18117a0699647136b2b90f5ef4ba3d1ff76dbb64363e","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-local-government-code-303.007","next":"us-tx/tex.-local-government-code-303.022"},"notice":"GroundRules: Original legal text. Not legal advice."}