Sec. 181.003.  AUTHORITY TO BORROW MONEY, ISSUE STOCK, OR MORTGAGE PROPERTY.  A gas or electric corporation has the right to:
(1)  borrow money;
(2)  issue stock, including preferred stock;  or
(3)  mortgage a franchise or other property of the corporation to secure a debt contracted for any purpose of the corporation.
Acts 1997, 75th Leg., ch. 166, Sec. 1, eff. Sept. 1, 1997.