Tex. Local Government Code § 394.032
This is the official text of Tex. Local Government Code § 394.032, part of Texas’s Local Government Code — governs the powers and operations of Texas cities and counties.
Not legal advice. This page reproduces the official text of a government statute for reference only. Laws change, and how a statute applies depends on your specific facts. For advice about your situation, consult a licensed attorney in your state.
§ 394.032. GENERAL POWERS.
Official statutory text
(a) A housing finance corporation may:
(1) make contracts and other instruments as necessary or convenient to the exercise of powers under this chapter;
(2) incur liabilities;
(3) borrow money at rates determined by the corporation;
(4) issue notes, bonds, and other obligations; and
(5) secure any of its obligations by the mortgage or pledge of all or part of the corporation's property, franchises, and income.
(b) A housing finance corporation may plan, research, study, develop, and promote the establishment of residential development.
(c) A housing finance corporation may make donations for the public welfare or for charitable, scientific, or educational purposes.
(d) A housing finance corporation may enter into contracts to perform services for any other housing finance corporation or any individual or entity acting on behalf of any other housing finance corporation or, with respect to residential development, any housing authority, nonprofit enterprise, or similar entity.
(e) A housing finance corporation may delegate to the Texas Department of Housing and Community Affairs the authority to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement, and disposal of home mortgages or residential developments, including its authority to issue bonds for those purposes.
(1) make contracts and other instruments as necessary or convenient to the exercise of powers under this chapter;
(2) incur liabilities;
(3) borrow money at rates determined by the corporation;
(4) issue notes, bonds, and other obligations; and
(5) secure any of its obligations by the mortgage or pledge of all or part of the corporation's property, franchises, and income.
(b) A housing finance corporation may plan, research, study, develop, and promote the establishment of residential development.
(c) A housing finance corporation may make donations for the public welfare or for charitable, scientific, or educational purposes.
(d) A housing finance corporation may enter into contracts to perform services for any other housing finance corporation or any individual or entity acting on behalf of any other housing finance corporation or, with respect to residential development, any housing authority, nonprofit enterprise, or similar entity.
(e) A housing finance corporation may delegate to the Texas Department of Housing and Community Affairs the authority to act on its behalf in the financing, refinancing, acquisition, leasing, ownership, improvement, and disposal of home mortgages or residential developments, including its authority to issue bonds for those purposes.
Status: in_force · Read it on the official government site
Need a lawyer in Texas?
Find a Texas lawyer
About this page: Statute text is reproduced from official government publishers via the
Open US Law dataset
(Vaquill AI, snapshot v2026.08, CC BY 4.0). Primary legislative text like this is public domain under the government-edicts doctrine
(Georgia v. Public.Resource.Org, 2020). We link every section back to its official source so you can verify it independently.