§ 501.151 Authority to Finance Project
§ 501.152 Definition of Cost With Respect to Project
§ 501.153 Lease or Sale of Project
§ 501.154 Conveyance of Property to Institution of Higher Education
§ 501.155 Loan to Finance Project
§ 501.156 Agreement Must Benefit Corporation
§ 501.157 Default On Agreement; Enforcement
§ 501.158 Performance Agreements
§ 501.159 Powers Concerning Projects; Jurisdiction
§ 501.160 Owning or Operating Project as Business
§ 501.161 Certain Economic Incentives Prohibited
§ 501.162 Use of Tax Revenue for Job Training
§ 501.163 Use of Tax Revenue for Job-Related Skills Training by Certain Corporations
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Terms Used In Texas Local Government Code Chapter 501 > Subchapter D - Corporate Powers and Limitations Relating to Projects

  • 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.
  • Deed: The legal instrument used to transfer title in real property from one person to another.
  • Devise: To gift property by will.
  • Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
  • in writing: includes any representation of words, letters, or figures, whether by writing, printing, or other means. See Texas Government Code 312.011
  • 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.
  • Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
  • Personal property: All property that is not real property.
  • Population: means the population shown by the most recent federal decennial census. See Texas Government Code 311.005
  • Property: means real and personal property. See Texas Government Code 311.005
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.