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LOCAL GOVERNMENT CODE CHAPTER 501. PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS <br />partly finance or refinance a project; or <br />(4) money granted under a contract with a municipality under Section <br />380.002. <br />Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April <br />1, 2009. <br />Sec. 501.009. POLICE POWERS NOT AFFECTED. This subtitle does not deprive <br />this state or a governmental subdivision of this state of its police powers over <br /> a corporation's property and does not impair any police power over the property <br /> that is otherwise provided by law to any official or agency of this state or <br />its governmental subdivisions. <br />Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April <br />1, 2009. <br />Sec. 501.010. DELEGATION OF UNIT'S SOVEREIGN POWERS PROHIBITED. A unit <br />may not delegate to a corporation any of the unit's attributes of sovereignty, <br />including the power to tax, the power of eminent domain, and the police power. <br />Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April <br />1, 2009. <br />Sec. 501.011. REFERENCE TO ARTICLES OF INCORPORATION OR CERTIFICATE OF <br />FORMATION. (a) With respect to a corporation created under the Development <br />Corporation Act of 1979 (Article 5190.6, Vernon's Texas Civil Statutes) before <br />January 1, 2006, a reference in any law of this state or in the corporation's <br />governing documents to "articles of incorporation" means, for purposes of this <br />subtitle, the corporation's certificate of formation. <br />(b) With respect to a corporation that is created under the Development <br />Corporation Act of 1979 (Article 5190.6, Vernon's Texas Civil Statutes) before <br />January 1, 2006, and continues to operate under articles of incorporation, a <br />reference in this subtitle or any other law of this state or in the <br />corporation's governing documents to "certificate of formation" means the <br />corporation's articles of incorporation. <br />Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April <br />1, 2009. <br />SUBCHAPTER B. CREATION AND OPERATION OF CORPORATION <br />Sec. 501.051. AUTHORITY TO CREATE. (a) Three or more individuals who are <br /> qualified voters of a unit may file with the unit's governing body a written <br />http://www.statutes.legis.state.tx.us/Docs/LG/htm/LG.501.htm\[9/22/2014 3:35:01 PM\] <br /> <br />