1. (a) In the amount and under the terms that are agreed to by the municipality and the lender, a municipality may borrow money for a project from:

   1. (1) the United States;
   2. (2) an agency of the United States authorized to make a loan to a municipality; or
   3. (3) any person, firm, or corporation.
2. (b) The loan shall be evidenced by obligations issued under this subchapter if the project is financed under this subchapter.

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