Texas Local Government Code - LOC GOV'T § 501.252. State Standards and Guidelines for Lease, Sale, or Loan Agreements
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(a) The economic development office shall adopt rules:
(1) providing minimum standards for lease, sale, and loan agreements entered into under this subtitle; and
(2) providing guidelines with respect to the business experience, financial resources, and responsibilities of the lessee, purchaser, or borrower under a lease, sale, or loan agreement entered into under this subtitle.
(b) The economic development office may adopt rules governing the terms of a loan made by a corporation to a bank or other lending institution the proceeds of which are reloaned as permanent or temporary financing of a project.
Cite this article: FindLaw.com - Texas Local Government Code - LOC GOV'T § 501.252. State Standards and Guidelines for Lease, Sale, or Loan Agreements - last updated April 14, 2021 | https://codes.findlaw.com/tx/local-government-code/loc-gov-t-sect-501-252.html
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