§ 81346 Nonprofit Building Financing Bonds

• •Nonprofit groups can borrow money to build buildings by selling special papers called bonds.
• •These bonds must be sold following strict rules from another part of the law (Chapter 10).
• •This only applies if the nonprofit has a lease or agreement to build the building.

A nonprofit wants to build a new community center but doesn’t have enough money.

They can sell bonds to raise money, but they have to follow the rules in Chapter 10 of the Government Code.