A defense community awarded a loan of financial assistance from the Texas military value revolving loan account for an eligible project under this subchapter may use a portion of the loan proceeds to pay off other debt, including commercial debt, the defense community incurred for purposes of financing the project.
Tex. Gov't Code § 436.1533
USE OF LOAN PROCEEDS TO PAY OTHER DEBT INCURRED TO FINANCE PROJECT
Added by Acts 2019, 86th Leg., R.S., Ch. 276 (S.B. 2131), Sec. 2, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.