Tex. Local Gov't Code Section 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.

Source: Section 394.039 — Specific Powers Relating to Financial and Property Transactions, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­394.­htm#394.­039 (accessed Jun. 5, 2024).

394.001
Short Title 394.002
Purpose 394.003
Definitions 394.004
Application of Chapter to Certain Residential Developments 394.005
Application of Chapter to Property in Certain Municipalities 394.011
Application for Incorporation 394.012
Application for Incorporation Of, and Other Special Provisions For, Joint Corporation 394.013
Incorporators 394.014
Articles of Incorporation 394.015
Filing of Articles of Incorporation 394.016
Amendment of Articles of Incorporation 394.017
Filing of Articles of Amendment 394.021
Board of Directors 394.022
Organizational Meeting 394.023
Disposition of Corporate Earnings 394.024
Registered Office and Agent 394.025
Corporate Books and Records 394.026
Dissolution of Corporation 394.027
Annual Report 394.031
Exercise of Powers 394.032
General Powers 394.033
Corporate Name 394.034
Officers 394.035
Bylaws 394.036
Acceptance of Financial Assistance 394.037
Bonds 394.038
Acquisition of Shares or Obligations 394.039
Specific Powers Relating to Financial and Property Transactions 394.040
Transactions with Lending Institutions 394.041
Standards for Mortgages or Loans 394.042
Disposal of Residential Developments or Home Mortgages 394.051
Bonds 394.052
Bond Covenants 394.053
Validity of Bonds 394.054
Security for Bonds 394.055
Liability for Bonds and Contracts 394.056
Bond as Security 394.057
Bond as Authorized Investment or as Security for Deposit 394.901
Designation of Area as Economically Depressed or Blighted 394.902
Housing for Elderly 394.903
Location of Residential Development 394.904
Exemption from Requirements and Restrictions Applying to Public Property 394.905
Exemption from Taxation 394.906
Conditions Under Which Federal Guarantee or Home Mortgage Insurance Not Required 394.907
Corporation Powers Not Restricted 394.9025
Multifamily Residential Development
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 394.039’s source at texas​.gov