- (a) A public entity in this state, including a municipality, county, district, authority, agency, department, board, or commission, that is authorized by law to construct, maintain, or finance a qualified project may borrow money from the bank, including by direct loan, based on the credit of the public entity.
- (b) Money borrowed under this section must be segregated from other funds under the control of the public entity and may only be used for purposes related to a qualified project.
- (c) The authority granted by this section does not affect the ability of a public entity to incur debt using other statutorily authorized methods.
Added by Acts 2001, 77th Leg., ch. 4, Sec. 1, eff. April 9, 2001.