Sec. 374.906.  POWERS OF PUBLIC BODY.  (a)  To aid in the planning or implementation of an urban renewal project located within the area in which it is authorized to act, any public body, after determining that a project is beneficial to its residents and after setting terms with or without consideration, may:
(1)  dedicate, sell, convey, or lease any of its interest in any urban renewal project or grant easements, licenses, or other rights and privileges in the project to a municipality or urban renewal agency;
(2)  incur the entire expense of any public improvements made by the public body in exercising the powers granted under this section;
(3)  do anything necessary to aid or cooperate in the planning or implementation of an urban renewal plan;
(4)  lend, grant, or contribute funds to a municipality or an urban renewal agency;
(5)  enter into agreements that may extend over any period with a municipality, urban renewal agency, or other public body relating to action to be taken by the public body under any of the powers granted under this chapter, including furnishing funds or other assistance in connection with an urban renewal project;
(6)  furnish public buildings and public facilities, including parks, playgrounds, recreational facilities, community facilities, educational facilities, water, sewer, or drainage facilities, or other public works;
(7)  furnish, dedicate, pave, install, grade, regrade, plan, or replan streets, roads, sidewalks, ways, or other places;
(8)  plan, replan, zone, or rezone any part of the public body or make exceptions from building regulations;  or
(9)  furnish administrative and other services to the municipality or urban renewal agency.
(b)  If title to or possession of any urban renewal project is held by the federal government, the provisions of an agreement under this section inure to and may be enforced by the federal government.
(c)  A sale, conveyance, lease, or agreement under this section may be made by and between public bodies without appraisal, public notice, advertisement, or public bidding.
(d)  To aid in planning or conducting an urban renewal project through an urban renewal agency under this chapter, a municipality may perform all of the functions that a public body may perform under Subsection (a), including furnishing financial and other assistance.
(e)  For the purposes of this section or to aid in the planning or carrying out of a municipal urban renewal project, a municipality may issue and sell general obligation bonds in addition to bonds issued under Section 374.026.  Bonds issued under this section must be issued in the manner and are subject to the limitations generally provided by the laws of this state for the issuance and authorization of municipal bonds for public purposes.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.