Section 362.017 - Industrial Development Corporation(a) A public agency that has entered into a contract under Section 362.014 may sponsor the creation of an industrial development corporation under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code).(b) The corporation may issue bonds, notes, or other evidences of indebtedness under the Development Corporation Act (Subtitle C1, Title 12, Local Government Code) to finance the cost of a system under the contract regardless of whether the system is located within the boundaries of the public agency.Tex. Health and Safety Code § 362.017
Amended By Acts 2007, 80th Leg., R.S., Ch. 885, Sec. 3.15, eff. 4/1/2009. Acts 1989, 71st Leg., ch. 678, Sec. 1, eff. 9/1/1989.