Texas Transportation Code

§ 431.107 — INCOME OF LOCAL GOVERNMENT CORPORATION

TN § 431.107Title 6. ROADWAYS · Part I. TRANSPORTATION CORPORATIONS · Ch. 431. TEXAS TRANSPORTATION CORPORATION ACT · Art. D. LOCAL GOVERNMENT CORPORATIONS

Statute text

View on source

(a)A local government creating a local government corporation is entitled at any time to receive any income earned by the local government corporation that is not needed to pay the corporation's expenses or obligations.

(b)The earnings of a local government corporation may not benefit a private interest.

Legislative history

Acts 1995, 74th Leg., ch. 165, Sec. 1, eff. Sept. 1, 1995.