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Texas Statutes (Last Updated: January 4, 2014) |
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SPECIAL DISTRICT LOCAL LAWS CODE |
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Title 4. DEVELOPMENT AND IMPROVEMENT |
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Subtitle C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT |
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Chapter 3831. TEMPLE HEALTH AND BIOSCIENCE ECONOMIC DEVELOPMENT DISTRICT |
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Subchapter A. GENERAL PROVISIONS |
Sec. 3831.006. ELIGIBILITY FOR INCLUSION IN SPECIAL ZONES
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(a) All or part of the area of the district is eligible to be included in:
(1) a tax increment reinvestment zone created by the City of Temple under Chapter 311, Tax Code; or
(2) a tax abatement reinvestment zone created by the City of Temple under Chapter 312, Tax Code.
(b) If the City of Temple creates a tax increment reinvestment zone described by Subsection (a), the city and the board of directors of the zone, by contract with the district, may:
(1) grant money deposited in the tax increment fund to the district to be used by the district for any purpose, including pledging the money as security for any bonds issued by the district for an improvement project; or
(2) give the district the power to manage or implement a reinvestment zone's project or financing plans.