1. (a) A coastal county may contract with a state agency, municipality, county, or other political subdivision of the state or any agency or instrumentality of the federal government to implement a qualified project under this subchapter. A contract under this section may:

   1. (1) be for a period on which the parties agree;
   2. (2) include terms on which the parties agree; and
   3. (3) be payable from taxes, qualified payments, or any other source of revenue available for that purpose.

2. (b) A coastal county may enter into a contract, lease, or agreement with or make or accept grants and loans to or from:

   1. (1) the United States;
   2. (2) the State of Texas;
   3. (3) a county, municipality, or other political subdivision of the state;
   4. (4) a public or private corporation; or
   5. (5) any other person.

Added by Acts 2005, 79th Leg., Ch. 867 (S.B. 1044), Sec. 4, eff. June 17, 2005.