(a) All or any part of the district is eligible to be included in a tax increment reinvestment zone created under Chapter 311, Tax Code.(b) If the City of Denison creates a tax increment reinvestment zone described by Subsection (a) that includes all or part of the territory of the district, the City of Denison and the board of directors of the zone, by contract with the district, may grant money to the district to be used for a permissible purpose of a corporation under Section 380.002(b), Local Government Code, including the right to pledge the money as security for a bond issued by the district. Added by Acts 2009, 81st Leg., R.S., Ch. 1071 (H.B. 4737), Sec. 1, eff. September 1, 2009.
Texas Legal Code