Texas The Texas Constitution

§ 11.3 — COUNTY OR MUNICIPAL INVESTMENT IN OR DONATION OR LOAN TO PRIVATE CORPORATION OR ASSOCIATION PROHIBITED

CN § 11.3

Statute text

No county, city, or other municipal corporation shall hereafter become a subscriber to the capital of any private corporation or association, or make any appropriation or donation to the same, or in anywise loan its credit; but this shall not be construed to in any way affect any obligation heretofore undertaken pursuant to law or to prevent a county, city, or other municipal corporation from investing its funds as authorized by law. (Feb. 15, 1876. Amended Nov. 7, 1989.)