Texas Local Government Code 507.105 – General Powers Related to Finances
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Terms Used In Texas Local Government Code 507.105
- 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.
A spaceport development corporation may:
(1) impose a charge for using a spaceport or a service the corporation provides;
(2) borrow money;
(3) loan money to fund a spaceport; and
(4) invest money under the corporation’s control in an investment authorized by Chapter 2256, Government Code.