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Texas Local Government Code - LOC GOV'T § 501.155. Loan to Finance Project

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) A corporation may make a secured or unsecured loan to a user for the purpose of providing temporary or permanent financing or refinancing of all or part of the cost of a project, including the refunding of an outstanding obligation, mortgage, or advance issued, made, or given by a person for the cost of a project.

(b) For a loan made under this section, a corporation may charge and collect interest on the terms the corporation's board of directors considers advisable and not in conflict with this subtitle.

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Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 501.155. Loan to Finance Project - last updated January 01, 2024 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-501-155/

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