Texas § 1505.104 AUTHORITY TO BORROW MONEY.

Texas Statutes

§ 1505.104 — AUTHORITY TO BORROW MONEY.

Texas § 1505.104

Code GVGovernment Code

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Bluebook

Tex. Government Code Code Ann. § 1505.104 (2026).

Text

Sec. 1505.104. AUTHORITY TO BORROW MONEY.

(a)In the amount and under the terms that are agreed to by the municipality and the lender, a municipality may borrow money for a project from:

(1)the United States;

(2)an agency of the United States authorized to make a loan to a municipality; or

(3)any person, firm, or corporation.

(b)The loan shall be evidenced by obligations issued under this subchapter if the project is financed under this subchapter.

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Sec. 1505.104. AUTHORITY TO BORROW MONEY. (a) In the amount and under the terms that are agreed to by the municipality and the lender, a municipality may borrow money for a project from:
(1) the United States;
(2) an agency of the United States authorized to make a loan to a municipality; or
(3) any person, firm, or corporation.
(b) The loan shall be evidenced by obligations issued under this subchapter if the project is financed under this subchapter.