§ 501.001 Short Title
§ 501.002 Definitions
§ 501.003 Who May Be User
§ 501.004 Legislative Findings; Construction of Subtitle
§ 501.005 Adoption of Alternate Procedure
§ 501.006 Use of Corporation to Finance Project
§ 501.007 Lending Credit or Granting Public Money
§ 501.008 Limitation On Financial Obligation
§ 501.009 Police Powers Not Affected
§ 501.010 Delegation of Unit’s Sovereign Powers Prohibited
§ 501.011 Reference to Articles of Incorporation or Certificate of Formation
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Terms Used In Texas Local Government Code Chapter 501 > Subchapter A - General Provisions

  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
  • Mortgage: The written agreement pledging property to a creditor as collateral for a loan.
  • Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Property: means real and personal property. See Texas Government Code 311.005