reglab/statecodes huggingface dataset:
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.034. Officers; Agents

Sec. 394.034.  OFFICERS;  AGENTS.  A housing finance corporation may elect or appoint corporate officers or agents for a period determined by the corporation, define their duties, and may set their compensation.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.035. Bylaws

Sec. 394.035.  BYLAWS.  A housing finance corporation may make, amend, and repeal bylaws, not inconsistent with the articles of incorporation or this chapter, for the administration and regulation of the corporation's affairs.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.036. Acceptance of Financial Assistance

Sec. 394.036.  ACCEPTANCE OF FINANCIAL ASSISTANCE.  (a)  A housing finance corporation may apply for and accept, on its own behalf or on behalf of another person, advances, loans, grants, contributions, guarantees, rent supplements, mortgage assistance, and other forms of financial assistance from the federal government, the state, a county, a municipality, or any other public or quasi-public body, corporation, or foundation, or from any other public or private source, for any of the purposes of this chapter.
(b)  The corporation may include reasonable and appropriate terms, not inconsistent with the purposes of this chapter, in any contract for financial assistance obtained under this section.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.037. Bonds

Sec. 394.037.  BONDS.  (a)  A housing finance corporation may issue bonds to defray, in whole or in part:
(1)  the development costs of a residential development;
(2)  the costs of purchasing or funding the making of home mortgages, either on a first-come, first-served basis or by selling lender commitments, including the costs of studies and surveys, insurance premiums, financial advisory services, mortgage banking services, administrative services, underwriting fees, legal services, accounting services, and marketing services incurred in connection with the issuance and sale of the bonds, including bond and interest reserve accounts, capitalized interest accounts, and trustee, custodian, and rating agency fees;  or
(3)  any other costs associated with the provision of decent, safe, and sanitary housing and nonhousing facilities that are an integral part of or are functionally related to an affordable housing project.
(b)  The corporation may pledge all or a part of the revenues, receipts, or resources of the corporation, including any revenues or receipts received from residential development or home mortgages, to the prompt payment of bonds authorized under this chapter and to the interest and any redemption premiums on those bonds.  It may issue bonds to refund in whole or in part at any time any bonds previously issued under this chapter by the corporation.
(c)  The corporation may designate appropriate names for bonds issued under this chapter.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 1420, Sec. 12, eff. June 20, 1997;  Acts 2001, 77th Leg., ch. 113, Sec. 2, eff. May 11, 2001.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.038. Acquisition of Shares or Obligations

Sec. 394.038.  ACQUISITION OF SHARES OR OBLIGATIONS.  A housing finance corporation may purchase, receive, subscribe for, or otherwise acquire, own, hold, vote, use, employ, mortgage, lend, pledge, sell, or otherwise dispose of, and otherwise use and deal in and with:
(1)  shares and other interests in or obligations of other domestic or foreign corporations, whether profit or nonprofit, associations, partnerships, or individuals;  or
(2)  direct or indirect obligations of the United States or of any other government, state, political subdivision of a state, territory, government district, or any instrumentality of such a governmental entity.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.039. Specific Powers Relating to Financial and Property Transactions

Sec. 394.039.  SPECIFIC POWERS RELATING TO FINANCIAL AND PROPERTY TRANSACTIONS.  A housing finance corporation may:
(1)  lend money for its corporate purposes, invest and reinvest its funds, and take and hold real or personal property as security for the payment of the loaned or invested funds;
(2)  mortgage, pledge, or grant security interests in any residential development, home mortgage, note, or other property in favor of the holders of bonds issued for those items;
(3)  purchase, receive, lease, or otherwise acquire, own, hold, improve, use, or deal in and with real or personal property or interests in that property, wherever the property is located, as required by the purposes of the corporation or as donated to the corporation;  and
(4)  sell, convey, mortgage, pledge, lease, exchange, transfer, and otherwise dispose of all or part of its property and assets.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.040. Transactions With Lending Institutions

Sec. 394.040.  TRANSACTIONS WITH LENDING INSTITUTIONS.  (a)  A housing finance corporation may make, contract to make, but is not required to make, and enter into advance commitments to make home mortgages originated, administered, and serviced by lending institutions.  It may pay the reasonable value of services rendered under those contracts.  It may acquire, contract to acquire, and enter into advance commitments to acquire, by assignment or other means, home mortgages owned by lending institutions at purchase prices and on other terms determined by the corporation or its agent.
(b)  The corporation may require each lending institution from which home mortgages are proposed to be purchased or to which loans are made to submit evidence satisfactory to the corporation of the ability and intention of the lending institution to make home mortgages, and require the submission, within the time specified by the corporation for making disbursements for home mortgages, of evidence satisfactory to the corporation of the making of home mortgages and of the compliance with the standards and requirements established by the corporation under Section 394.041.
(c)  The corporation may make loans to lending institutions under terms that, in addition to other provisions determined by the corporation, require:
(1)  the institutions to use substantially all of the net proceeds of the loans, directly or indirectly, to make home mortgages in an aggregate principal amount substantially equal to the amount of the net proceeds;  and
(2)  the loans to be fully secured, to the extent not secured by home mortgages, in the same manner as deposits of public funds of the local government.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1997, 75th Leg., ch. 1420, Sec. 13, eff. June 20, 1997.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.041. Standards for Mortgages or Loans

Sec. 394.041.  STANDARDS FOR MORTGAGES OR LOANS.  A housing finance corporation may establish by rule, in resolutions or financing documents relating to the issuance of bonds, standards and requirements applicable to making or purchasing home mortgages or making loans to lending institutions as considered necessary or desirable by the corporation, including standards and requirements related to:
(1)  the time within which lending institutions must make commitments and disbursements for home mortgages;
(2)  the location and other characteristics of homes financed by home mortgages;
(3)  the terms of home mortgages made or acquired;
(4)  the amounts and types of insurance coverage required on homes, home mortgages, and bonds;
(5)  the representations and warranties of lending institutions confirming compliance with the standards and requirements;
(6)  restrictions as to interest rates and other terms of home mortgages or as to the return realized on those mortgages by lending institutions;
(7)  the type and amount of collateral security required on a loan from the corporation and to assure repayment of bonds;  and
(8)  other matters regarding the making or purchasing of home mortgages or the making of loans to lending institutions as the corporation considers relevant.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter D. Corporate Powers › Section 394.042. Disposal of Residential Developments or Home Mortgages

Sec. 394.042.  DISPOSAL OF RESIDENTIAL DEVELOPMENTS OR HOME MORTGAGES.  (a)  A housing finance corporation may sell and convey any residential development or home mortgage, including a sale and conveyance subject to a mortgage, pledge, or security interest, as provided in the resolution relating to the issuance of bonds and for the prices and at the times determined by the board of directors.
(b)  The corporation may rent, lease, sell, or otherwise dispose of any residential development or home mortgages in whole or in part, or lend sufficient funds to any person to defray in whole or in part the development costs of any residential development or the costs of purchasing home mortgages, so that the rent or other revenue derived from the residential development or home mortgages, combined with any insurance proceeds, reserve accounts, and earnings on those accounts, is designed to produce revenues and receipts at least sufficient to provide for the prompt payment on maturity of principal, interest, and any redemption premiums on bonds issued to finance those costs.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter E. Housing Finance Corporation Bonds › Section 394.052. Bond Covenants

Sec. 394.052.  BOND COVENANTS.  (a)  A resolution authorizing the issuance of bonds under this chapter may contain covenants relating to:
(1)  the use and disposition of the bond proceeds and of the revenue and receipts from any residential development or home mortgages for which the bonds are issued, including the creation and maintenance of reserves;
(2)  the issuance of other or additional bonds relating to any residential development or to any rehabilitation, improvement, renovation, or enlargement of, or addition to, a residential development;
(3)  the maintenance and repair of a residential development or any homes;
(4)  the insurance carried on any residential development, home, home mortgage, or bonds, and the use and disposition of insurance money;
(5)  the appointment of one or more banks or trust companies located inside or outside this state that have the necessary trust powers as trustee or custodian for the benefit of the bondholders, paying agent, or bond registrar, and the investment of any funds held by the trustee or custodian;
(6)  the appointment of one or more mortgage bankers to provide necessary administrative and mortgage servicing functions to assure the proper administration of the corporation's portfolio of home mortgage loans for the benefit of the bondholders;
(7)  the maximum interest rate payable on any home mortgage;  and
(8)  the terms on which the bondholders or the trustees for the bonds are entitled to the appointment of a receiver by a court of competent jurisdiction.
(b)  The terms established under Subsection (a)(8) relating to the appointment of a receiver may provide that the receiver may:
(1)  enter and take possession of all or part of the residential development or home mortgage;
(2)  maintain, lease, sell, or otherwise dispose of the development or mortgage;
(3)  prescribe rentals or other payments;  and
(4)  collect, receive, and apply all income and other revenues that arise from the development or mortgage after the receiver takes possession.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter E. Housing Finance Corporation Bonds › Section 394.053. Validity of Bonds; Signatures

Sec. 394.053.  VALIDITY OF BONDS;  SIGNATURES.  (a)  Bonds issued under this chapter must bear the actual or facsimile signature of the housing finance corporation's officers designated in the resolution authorizing the bonds.  The validity of a signature of an officer of the corporation is not affected by the fact that before the delivery of the bond or its payment, a person whose signature appears on the bond ceases to be an officer.
(b)  The validity of the bonds is not dependent on or affected by the validity or regularity of any proceedings relating to the residential development or home mortgages for which the bonds are issued.
(c)  The resolution authorizing the bonds may require that the bonds contain a statement that they are issued under this chapter.  The statement is conclusive evidence of the validity of the bonds and the regularity of their issuance.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter E. Housing Finance Corporation Bonds › Section 394.054. Security for Bonds

Sec. 394.054.  SECURITY FOR BONDS.  (a)  A resolution authorizing the issuance of bonds under this chapter may require that the principal of and interest on the bonds be secured by a mortgage, pledge, security interest, insurance agreement, or indenture of trust that covers the residential development or home mortgages for which the bonds are issued and may include any improvements or extensions made after the bonds are issued.  A security instrument may contain covenants and agreements to properly safeguard the bonds as provided by the resolution authorizing the bonds and shall be executed in the manner provided by the resolution.
(b)  This chapter, the resolution, and the mortgage, pledge, security interest, or indenture of trust constitute a contract with the bondholders that continues in effect until the principal of and interest on the bonds and any redemption premiums have been fully paid or provision for payment has been made.
(c)  The resolution, the mortgage, pledge, security interest, or indenture of trust, and the duties under this chapter of the housing finance corporation and its officers and other authorities are enforceable as provided by the resolution, the instrument, or this chapter by any bondholder by mandamus, by foreclosure of the mortgage, pledge, security interest, or indenture of trust, or by any other appropriate action in a court of competent jurisdiction.  The resolution or the mortgage, pledge, security interest, or indenture of trust may provide that the remedies and rights to enforcement may be vested in a trustee, with full power of appointment, for the benefit of all the bondholders.  The trustee is subject to the control of a number of bondholders or bond owners as provided in the resolution or instrument.
(d)  Bonds issued under this chapter may be secured by a pledge of or a lien on all or part of the revenues, receipts, or other resources of the housing finance corporation, including the revenues and receipts derived from the residential development or home mortgages or from any notes or other obligations of lending institutions with respect to which the bonds have been issued.  The board of directors may provide in the resolution authorizing the bonds for the issuance of additional bonds equally and ratably secured by a lien on the revenues and receipts or may provide that the lien on the revenues and receipts is subordinate.  Subordinate lien bonds may also be issued unless prohibited by a bond resolution.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter E. Housing Finance Corporation Bonds › Section 394.055. Liability for Bonds and Contracts; Debt Not Created

Sec. 394.055.  LIABILITY FOR BONDS AND CONTRACTS;  DEBT NOT CREATED.  (a)  Bonds issued under this chapter are limited obligations of the housing finance corporation and are payable solely from the revenue, receipts, and other resources pledged to their payment.  A bondholder may not compel the local government to pay the bond, the interest, or any redemption premium.
(b)  The local government and this state are not liable in any way regarding bonds issued by the housing finance corporation.  An agreement or obligation of the corporation does not constitute, within the meaning of a statutory or constitutional provision, an agreement, obligation, or debt of the state or the local government.
(c)  The bonds do not constitute, within the meaning of a statutory or constitutional provision, an indebtedness, an obligation, or a loan of credit of the state, the local government, or any other municipality, county, or other municipal or political corporation or subdivision of the state.  The bonds do not create a moral obligation on the part of any of those governmental entities with respect to the payment of the bonds.  Those governmental entities may not make payments with respect to the bonds.
(d)  The face of each bond must plainly state that it has been issued under this chapter and that it does not constitute, within the meaning of any statutory or constitutional provision, an indebtedness, an obligation, or a loan of credit of the state, the local government, or any other municipality, county, or other municipal or political corporation or subdivision of the state.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter E. Housing Finance Corporation Bonds › Section 394.056. Bond as Security

Sec. 394.056.  BOND AS SECURITY.  (a)  A bond issued under this chapter or a coupon representing interest on the bond is, when delivered, a security as that term is defined under Chapter 8 of the Uniform Commercial Code (Chapter 8, Title 1, Business & Commerce Code) and is an exempt security under The Securities Act (Title 12, Government Code).
(b)  A contract made under this chapter is not a security under The Securities Act.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Amended by:
Acts 2019, 86th Leg., R.S., Ch. 491 (H.B. 4171), Sec. 2.36, eff. January 1, 2022.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter E. Housing Finance Corporation Bonds › Section 394.057. Bond as Authorized Investment or as Security for Deposit

Sec. 394.057.  BOND AS AUTHORIZED INVESTMENT OR AS SECURITY FOR DEPOSIT.  (a)  Bonds issued under this chapter are legal and authorized investments for any bank, savings bank, trust company, savings and loan association, insurance company, fiduciary, trustee, guardian, or sinking fund of a municipality, county, school district, or other political corporation or subdivision of the state.
(b)  The bonds are eligible to secure the deposit of any public funds of this state or of a municipality, county, school district, or other political corporation or subdivision of the state, and are lawful and sufficient securities for the deposits at face value if accompanied by all unmatured coupons, if any, appurtenant to the bonds.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.901. Designation of Area as Economically Depressed or Blighted; Notice

Sec. 394.901.  DESIGNATION OF AREA AS ECONOMICALLY DEPRESSED OR BLIGHTED;  NOTICE.  (a)  To designate an area as economically depressed or blighted under the meaning provided by Section 394.003(3)(B) or (C), the governing body of the affected municipality must hold a public hearing and must find that the area substantially impairs or arrests the sound growth of the municipality or that it constitutes an economic or social liability and is, in its current condition and use, a menace to the public health, safety, morals, or welfare.
(b)  The governing body shall give notice of the hearing as provided by Chapter 551, Government Code, except that the notice must be published at least 10 days before the date of the hearing.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.  Amended by Acts 1995, 74th Leg., ch. 76, Sec. 5.95(78), eff. Sept. 1, 1995.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.902. Housing for Elderly

Sec. 394.902.  HOUSING FOR ELDERLY.  (a)  The housing finance corporation shall require that at least five percent of the units in a multifamily residential development be built or renovated and be reserved for the lifetime of the development for occupancy by elderly persons of low income or by families of low or moderate income in which an elderly person is the head of a household if the development:
(1)  contains at least 20 units;  and
(2)  is financed by bonds issued under this chapter as a result of an official decision to issue bonds that occurs on or after January 1, 1986.
(b)  Instead of requiring a reservation of units as required under Subsection (a), the housing finance corporation may collect a fee equal to one-tenth percent of the total principal amount of the loan made for the multifamily residential development.  The corporation shall collect the fee from the person who receives the loan at the time the loan is delivered.  Immediately after the receipt of the fee, the corporation shall remit the fee to the Texas Department on Aging.  The department shall deposit all funds received under this subsection to the credit of a special account in the general revenue fund.  Funds in the special account may be used only to assist in obtaining housing for elderly persons or families in which an elderly person is the head of a household.
(c)  If the housing finance corporation requires a reservation under Subsection (a), the design engineer for the development must certify to the corporation that the reserved units in the development meet standards set by the Texas Department on Aging for elderly persons.
(d)  The governing body of the local government that authorizes, sponsors, or otherwise participates in the creation of the housing finance corporation shall cooperate with the Texas Department on Aging to implement this section and shall submit to the department an annual report relating to the number of developments financed under this chapter, the number of units reserved for the elderly persons or for families in which an elderly person is the head of the household, the amount of fees collected, and other information required by the department.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.9025. Multifamily Residential Development

Sec. 394.9025.  MULTIFAMILY RESIDENTIAL DEVELOPMENT.  (a)  Following a public hearing, a housing finance corporation may issue bonds to finance a multifamily residential development to be owned by the housing finance corporation if at least 50 percent of the units in the multifamily residential development are reserved for occupancy by individuals and families earning less than 80 percent of the area median family income.
(b)  Following a public hearing by the governing body of the local government, a housing finance corporation may issue bonds to finance a multifamily residential development to be owned by the housing finance corporation in accordance with Section 394.004 if the housing finance corporation receives approval of the governing body of the local government.
Added by Acts 2001, 77th Leg., ch. 1493, Sec. 3, eff. Aug. 31, 2002.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.903. Location of Residential Development; Residential Development Sites

Sec. 394.903.  LOCATION OF RESIDENTIAL DEVELOPMENT;  RESIDENTIAL DEVELOPMENT SITES.  (a)  A residential development covered by this chapter must be located within the local government.
(b)  The local government may transfer any residential development site to a housing finance corporation by sale or lease.  The governing body of the local government may authorize the transfer by resolution without submitting the issue to the voters and without regard to the requirements, restrictions, limitations, or other provisions contained in any other general, special, or local law.  The site may be located wholly or partly inside or outside the local government.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.904. Exemption From Requirements and Restrictions Applying to Public Property

Sec. 394.904.  EXEMPTION FROM REQUIREMENTS AND RESTRICTIONS APPLYING TO PUBLIC PROPERTY.  (a)  The acquisition, construction, or rehabilitation of a private residential development or a home is not subject to requirements relating to public buildings, structures, grounds, works, or improvements imposed by the laws of this state, or to any other similar requirements.
(b)  Any competitive bidding requirement or restriction imposed on the procedure regarding the award of contracts for that acquisition, construction, or rehabilitation or regarding the lease, sale, or other disposition of property of the local government is not applicable to any action taken under this chapter.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.905. Exemption From Taxation

Sec. 394.905.  EXEMPTION FROM TAXATION.  The housing finance corporation, all property owned by it, the income from the property, all bonds issued by it, the income from the bonds, and the transfer of the bonds are exempt, as public property used for public purposes, from license fees, recording fees, and all other taxes imposed by this state or any political subdivision of this state.  The corporation is exempt from the franchise tax imposed by Chapter 171, Tax Code, only if the corporation is exempted by that chapter.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.906. Conditions Under Which Federal Guarantee or Home Mortgage Insurance Not Required

Sec. 394.906.  CONDITIONS UNDER WHICH FEDERAL GUARANTEE OR HOME MORTGAGE INSURANCE NOT REQUIRED.  A home mortgage does not require a federal guarantee or home mortgage insurance if the principal of and interest on the housing finance corporation's bonds issued to make or purchase the home mortgage or to make loans to lending institutions are guaranteed or insured by an agency, department, or instrumentality of the United States or by an insurance or surety company authorized to issue municipal bond insurance.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 394 - Housing Finance Corporations in Municipalities and Counties › Subchapter Z. Miscellaneous Provisions › Section 394.907. Corporation Powers Not Restricted; Police Powers Not Affected

Sec. 394.907.  CORPORATION POWERS NOT RESTRICTED;  POLICE POWERS NOT AFFECTED.  (a)  This chapter does not restrict or otherwise limit any powers that the housing finance corporation may otherwise exercise under the laws of this state.
(b)  Except as provided by this chapter, no proceeding, notice, or approval is required for the organization of the housing finance corporation, the issuance of bonds, or the issuance of any instrument as security for the bonds.
(c)  This chapter does not deprive this state or a governmental subdivision of this state of their respective police powers over property of the housing finance corporation and does not impair any power over the property that is otherwise provided by law to any official or agency of the state or its governmental subdivisions.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.011. Authorization of Fee

Sec. 395.011.  AUTHORIZATION OF FEE.  (a)  Unless otherwise specifically authorized by state law or this chapter, a governmental entity or political subdivision may not enact or impose an impact fee.
(b)  Political subdivisions may enact or impose impact fees on land within their corporate boundaries or extraterritorial jurisdictions only by complying with this chapter, except that impact fees may not be enacted or imposed in the extraterritorial jurisdiction for roadway facilities.
(c)  A municipality may contract to provide capital improvements, except roadway facilities, to an area outside its corporate boundaries and extraterritorial jurisdiction and may charge an impact fee under the contract, but if an impact fee is charged in that area, the municipality must comply with this chapter.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.012. Items Payable by Fee

Sec. 395.012.  ITEMS PAYABLE BY FEE.  (a)  An impact fee may be imposed only to pay the costs of constructing capital improvements or facility expansions, including and limited to the:
(1)  construction contract price;
(2)  surveying and engineering fees;
(3)  land acquisition costs, including land purchases, court awards and costs, attorney's fees, and expert witness fees; and
(4)  fees actually paid or contracted to be paid to an independent qualified engineer or financial consultant preparing or updating the capital improvements plan who is not an employee of the political subdivision.
(b)  Projected interest charges and other finance costs may be included in determining the amount of impact fees only if the impact fees are used for the payment of principal and interest on bonds, notes, or other obligations issued by or on behalf of the political subdivision to finance the capital improvements or facility expansions identified in the capital improvements plan and are not used to reimburse bond funds expended for facilities that are not identified in the capital improvements plan.
(c)  Notwithstanding any other provision of this chapter, the Edwards Underground Water District or a river authority that is authorized elsewhere by state law to charge fees that function as impact fees may use impact fees to pay a staff engineer who prepares or updates a capital improvements plan under this chapter.
(d)  A municipality may pledge an impact fee as security for the payment of debt service on a bond, note, or other obligation issued to finance a capital improvement or public facility expansion if:
(1)  the improvement or expansion is identified in a capital improvements plan;  and
(2)  at the time of the pledge, the governing body of the municipality certifies in a written order, ordinance, or resolution that none of the impact fee will be used or expended for an improvement or expansion not identified in the plan.
(e)  A certification under Subsection (d)(2) is sufficient evidence that an impact fee pledged will not be used or expended for an improvement or expansion that is not identified in the capital improvements plan.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.  Amended by Acts 1995, 74th Leg., ch. 90, Sec. 1, eff. May 16, 1995.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.013. Items Not Payable by Fee

Sec. 395.013.  ITEMS NOT PAYABLE BY FEE.  Impact fees may not be adopted or used to pay for:
(1)  construction, acquisition, or expansion of public facilities or assets other than capital improvements or facility expansions identified in the capital improvements plan;
(2)  repair, operation, or maintenance of existing or new capital improvements or facility expansions;
(3)  upgrading, updating, expanding, or replacing existing capital improvements to serve existing development in order to meet stricter safety, efficiency, environmental, or regulatory standards;
(4)  upgrading, updating, expanding, or replacing existing capital improvements to provide better service to existing development;
(5)  administrative and operating costs of the political subdivision, except the Edwards Underground Water District or a river authority that is authorized elsewhere by state law to charge fees that function as impact fees may use impact fees to pay its administrative and operating costs;
(6)  principal payments and interest or other finance charges on bonds or other indebtedness, except as allowed by Section 395.012.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.015. Maximum Fee per Service Unit

Sec. 395.015.  MAXIMUM FEE PER SERVICE UNIT.  (a)  The impact fee per service unit may not exceed the amount determined by subtracting the amount in Section 395.014(a)(7) from the costs of the capital improvements described by Section 395.014(a)(3) and dividing that amount by the total number of projected service units described by Section 395.014(a)(5).
(b)  If the number of new service units projected over a reasonable period of time is less than the total number of new service units shown by the approved land use assumptions at full development of the service area, the maximum impact fee per service unit shall be calculated by dividing the costs of the part of the capital improvements necessitated by and attributable to projected new service units described by Section 395.014(a)(6) by the projected new service units described in that section.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.  Amended by Acts 2001, 77th Leg., ch. 345, Sec. 3, eff. Sept. 1, 2001.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.017. Additional Fee Prohibited; Exception

Sec. 395.017.  ADDITIONAL FEE PROHIBITED;  EXCEPTION.  After assessment of the impact fees attributable to the new development or execution of an agreement for payment of impact fees, additional impact fees or increases in fees may not be assessed against the tract for any reason unless the number of service units to be developed on the tract increases.  In the event of the increase in the number of service units, the impact fees to be imposed are limited to the amount attributable to the additional service units.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.018. Agreement With Owner Regarding Payment

Sec. 395.018.  AGREEMENT WITH OWNER REGARDING PAYMENT.  A political subdivision is authorized to enter into an agreement with the owner of a tract of land for which the plat has been recorded providing for the time and method of payment of the impact fees.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.019. Collection of Fees if Services Not Available

Sec. 395.019.  COLLECTION OF FEES IF SERVICES NOT AVAILABLE.  Except for roadway facilities, impact fees may be assessed but may not be collected in areas where services are not currently available unless:
(1)  the collection is made to pay for a capital improvement or facility expansion that has been identified in the capital improvements plan and the political subdivision commits to commence construction within two years, under duly awarded and executed contracts or commitments of staff time covering substantially all of the work required to provide service, and to have the service available within a reasonable period of time considering the type of capital improvement or facility expansion to be constructed, but in no event longer than five years;
(2)  the political subdivision agrees that the owner of a new development may construct or finance the capital improvements or facility expansions and agrees that the costs incurred or funds advanced will be credited against the impact fees otherwise due from the new development or agrees to reimburse the owner for such costs from impact fees paid from other new developments that will use such capital improvements or facility expansions, which fees shall be collected and reimbursed to the owner at the time the other new development records its plat; or
(3)  an owner voluntarily requests the political subdivision to reserve capacity to serve future development, and the political subdivision and owner enter into a valid written agreement.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.020. Entitlement to Services

Sec. 395.020.  ENTITLEMENT TO SERVICES.  Any new development for which an impact fee has been paid is entitled to the permanent use and benefit of the services for which the fee was exacted and is entitled to receive immediate service from any existing facilities with actual capacity to serve the new service units, subject to compliance with other valid regulations.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.021. Authority of Political Subdivisions to Spend Funds to Reduce Fees

Sec. 395.021.  AUTHORITY OF POLITICAL SUBDIVISIONS TO SPEND FUNDS TO REDUCE FEES.  Political subdivisions may spend funds from any lawful source to pay for all or a part of the capital improvements or facility expansions to reduce the amount of impact fees.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.022. Authority of Political Subdivision to Pay Fees

Sec. 395.022.  AUTHORITY OF POLITICAL SUBDIVISION TO PAY FEES.  (a)  Political subdivisions and other governmental entities may pay impact fees imposed under this chapter.
(b)  A school district is not required to pay impact fees imposed under this chapter unless the board of trustees of the district consents to the payment of the fees by entering a contract with the political subdivision that imposes the fees.  The contract may contain terms the board of trustees considers advisable to provide for the payment of the fees.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 250 (S.B. 883), Sec. 1, eff. May 25, 2007.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.023. Credits Against Roadway Facilities Fees

Sec. 395.023.  CREDITS AGAINST ROADWAY FACILITIES FEES.  Any construction of, contributions to, or dedications of off-site roadway facilities agreed to or required by a political subdivision as a condition of development approval shall be credited against roadway facilities impact fees otherwise due from the development.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.
2023 Texas Statutes › Local Government Code › Title 12 - Planning and Development › Subtitle C - Planning and Development Provisions Applying to More Than One Type of Local Government › Chapter 395 - Financing Capital Improvements Required by New Development in Municipalities, Counties, and Certain Other Local Governments › Subchapter B. Authorization of Impact Fee › Section 395.024. Accounting for Fees and Interest

Sec. 395.024.  ACCOUNTING FOR FEES AND INTEREST.  (a)  The order, ordinance, or resolution levying an impact fee must provide that all funds collected through the adoption of an impact fee shall be deposited in interest-bearing accounts clearly identifying the category of capital improvements or facility expansions within the service area for which the fee was adopted.
(b)  Interest earned on impact fees is considered funds of the account on which it is earned and is subject to all restrictions placed on use of impact fees under this chapter.
(c)  Impact fee funds may be spent only for the purposes for which the impact fee was imposed as shown by the capital improvements plan and as authorized by this chapter.
(d)  The records of the accounts into which impact fees are deposited shall be open for public inspection and copying during ordinary business hours.
Added by Acts 1989, 71st Leg., ch. 1, Sec. 82(a), eff. Aug. 28, 1989.