AUTHORITY OF CERTAIN CORPORATIONS TO UNDERTAKE TYPE B PROJECTS.
Tex. LOC. GOV'T Code § 504.171.
in effect(a) This section applies only to a Type A corporation the creation of which was authorized by a municipality:
(1) that has also authorized the creation of a Type B corporation; and
(2) that has a population of 7,500 or less.
(b) Notwithstanding Section 504.152 , if permitted by ordinance of the authorizing municipality, a Type A corporation to which this section applies may undertake any project that a Type B corporation, the creation of which was authorized by the same municipality, may undertake under Chapter 505 .
(c) The governing body of an authorizing municipality may by ordinance revoke any authority granted to a Type A corporation under Subsection (b). A revocation under this subsection does not affect the authority of a corporation to complete a project already undertaken or the obligation to repay any debt incurred in connection with a project under Subsection (b).
Added by Acts 2011, 82nd Leg., R.S., Ch. 1177 (H.B. 3302 ), Sec. 1, eff. June 17, 2011.
SUBCHAPTER E. INVESTMENT AGREEMENTS