Texas Transportation Code

§ 367.058 — AUTHORITY TO BORROW MONEY OR ACCEPT FEDERAL ASSISTANCE

TN § 367.058Title 6. ROADWAYS · Part G. TURNPIKES AND TOLL PROJECTS · Ch. 367. MUNICIPAL TOLL BRIDGES OVER RIO GRANDE · Art. B. ACQUIRING EXISTING BRIDGE; BUILDING REPLACEMENT OR ADDITIONAL BRIDGE

Statute text

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(a)To accomplish the purposes of this subchapter, a municipality may:

(1)borrow money from any person or corporation; or

(2)borrow money or accept grants from the United States or a corporation or agency created by or authorized to act as an agency of the United States.

(b)In connection with a loan or grant under Subsection (a)(2), a municipality may enter into any related agreement that the United States, corporation, or agency requires.

Legislative history

Added by Acts 1999, 76th Leg., ch. 227, Sec. 25, eff. Sept. 1, 1999.