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LOCAL GOVERNMENT CODE CHAPTER 501. PROVISIONS GOVERNING DEVELOPMENT CORPORATIONS
<br />Waterway.
<br />(c) This section expires September 1, 2017.
<br />Added by Acts 2013, 83rd Leg., R.S., Ch. 1281 (H.B. 1966), Sec. 1, eff. June 14,
<br /> 2013.
<br />SUBCHAPTER D. CORPORATE POWERS AND LIMITATIONS RELATING TO PROJECTS
<br />Sec. 501.151. AUTHORITY TO FINANCE PROJECT. A corporation is a
<br />constituted authority for the purpose of financing one or more projects.
<br />Added by Acts 2007, 80th Leg., R.S., Ch. 885 (H.B. 2278), Sec. 3.01, eff. April
<br />1, 2009.
<br />Sec. 501.152. DEFINITION OF COST WITH RESPECT TO PROJECT. In this
<br />subtitle, "cost," with respect to a project, means the cost of the acquisition,
<br />cleanup, construction, reconstruction, improvement, or expansion of a project,
<br />including:
<br />(1) the cost of acquiring all land, rights-of-way, property rights,
<br />easements, and interests;
<br />(2) the cost of all machinery and equipment;
<br />(3) financing charges;
<br />(4) the cost of inventory, raw materials, and other supplies;
<br />(5) research and development costs;
<br />(6) interest accruing before and during construction and until the
<br />first anniversary of the date the construction is completed, regardless of
<br />whether capitalized;
<br />(7) necessary reserve funds;
<br />(8) the cost of estimates, including estimates of cost and revenue;
<br />(9) the cost of engineering or legal services;
<br />(10) the cost of plans, specifications, or surveys;
<br />(11) other expenses necessary or incident to determining the
<br />feasibility and practicability of acquiring, cleaning, constructing,
<br />reconstructing, improving, and expanding the project;
<br />(12) administrative expenses; and
<br />(13) other expenditures necessary or incident to:
<br />(A) acquiring, cleaning, constructing, reconstructing, improving,
<br />and expanding the project;
<br />(B) placing the project in operation; and
<br />(C) financing or refinancing the project, including refunding any
<br />outstanding obligations, mortgages, or advances issued, made, or given by a
<br />person for a cost described by this section.
<br />http://www.statutes.legis.state.tx.us/Docs/LG/htm/LG.501.htm\[9/22/2014 3:35:01 PM\]
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