81st Texas Legislature, Senate Bill 2453, Chapter 1247 Page: 3 of 7
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S.B. No. 2453
1 Code, is amended to read as follows:
2 Sec. 3846.162. BORROWING MONEY. The district may borrow
3 money for the corporate purposes of the district and may issue bonds
4 as authorized by Section 3846.164 for any district purpose,
5 including for the purpose of an economic development program under
6 Section 3846.106.
7 SECTION 5. (a) This section takes effect only if the Act of
8 the 81st Legislature, Regular Session, 2009, relating to
9 nonsubstantive additions to and corrections in enacted codes
10 becomes law.
11 (b) Sections 3846.253 and 3846.260, Special District Local
12 Laws Code, are amended to read as follows:
13 Sec. 3846.253. DEVELOPMENT ZONES AUTHORIZED. The board, on
14 its own motion or on receipt of a petition signed by the owners of
15 all real property in a defined area of the district consisting of
16 one tract of land containing at least 25 [er mor- ] contiguous acres
17 and any additional smaller or larger tracts, as appropriate [e#
18 l4ad], by resolution may create, designate, describe, assign a name
19 to, and appoint the governing body for a development zone in the
20 district to promote development or redevelopment of the area, if
21 the board finds that the creation of the zone will further the
22 public purposes of:
23 (1) the development and diversification of the economy
24 of the district and the state;
25 (2) the elimination of unemployment or
26 underemployment in the district and the state;
27 (3) the development or expansion of transportation or3
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Texas. Legislature. Senate. 81st Texas Legislature, Senate Bill 2453, Chapter 1247, legislative document, June 19, 2009; [Austin, Texas]. (https://texashistory.unt.edu/ark:/67531/metapth149560/m1/3/: accessed April 30, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting UNT Libraries Government Documents Department.