Sec. 394.907.  CORPORATION POWERS NOT RESTRICTED;  POLICE POWERS NOT AFFECTED.  (a)  This chapter does not restrict or otherwise limit any powers that the housing finance corporation may otherwise exercise under the laws of this state.
(b)  Except as provided by this chapter, no proceeding, notice, or approval is required for the organization of the housing finance corporation, the issuance of bonds, or the issuance of any instrument as security for the bonds.
(c)  This chapter does not deprive this state or a governmental subdivision of this state of their respective police powers over property of the housing finance corporation and does not impair any power over the property that is otherwise provided by law to any official or agency of the state or its governmental subdivisions.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.