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Texas Statutes (Last Updated: January 4, 2014) |
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LOCAL GOVERNMENT CODE |
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Title 12. PLANNING AND DEVELOPMENT |
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Subtitle C1. ADDITIONAL PLANNING AND DEVELOPMENT PROVISIONS APPLYING TO MORE THAN ONE TYPE OF LOCAL GOVERNMENT |
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Chapter 503. TEXAS SMALL BUSINESS INDUSTRIAL DEVELOPMENT CORPORATION |
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Subchapter C. SPECIFIC POWERS AND LIMITATIONS ON POWERS |
Sec. 503.101. FINANCING FOR USERS
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In addition to exercising any other power of a corporation under this subtitle, the Texas Small Business Industrial Development Corporation may:
(1) make a loan through the purchase of or participation in, and pledge, negotiate, or sell, bonds, notes, and other evidences of indebtedness of a user to finance a project that represents a direct loan, a grant, or a loan participation, or the repayment of which is wholly or partly insured or otherwise guaranteed, by the United States, this state, or an agency, department, or instrumentality of the United States or this state; and
(2) otherwise directly or indirectly provide financing for a user in the manner that the corporation determines to be necessary or convenient for the performance of the corporation's public purposes, functions, and duties under this subtitle.