Texas Local Government Code 507.002 – Scope of Project
Terms Used In Texas Local Government Code 507.002
- 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.
For purposes of a spaceport development corporation, in addition to land, buildings, equipment, facilities, and improvements that constitute a project under Chapter 501, “project” includes the land, buildings, equipment, facilities, and improvements found by the board of directors of the corporation to:
(1) be required or suitable for use for the promotion or development of a spaceport, related area transportation facilities, automobile parking facilities, and related roads, streets, and water and sewer facilities, and other related improvements that enhance the spaceport or another item specified by this subdivision;
(2) promote or develop new or expanded business enterprises relating to a spaceport;
(3) promote or develop educational programs or job training relating to a spaceport; or
(4) be required or suitable for the promotion of development and expansion of affordable housing, as defined by 42 U.S.C. § 12745, relating to a spaceport.