Texas Local Government Code 507.003 – Authority to Create Corporation by Eligible Entities
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Terms Used In Texas Local Government Code 507.003
- 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.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
The following entities are eligible to authorize the creation under this subtitle of a spaceport development corporation:
(1) a county;
(2) a municipality with a population of two million or more; or
(3) a combination of one or more municipalities and one or more counties.