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.
Authority To Borrow Money, Issue Stock, Or Mortgage Property
Tex. Utilities Code § 181.003, under Miscellaneous Powers and Duties of Utilities.
Tex. Utilities Code § 181.003