Texas gives green light to security funding entity.

A new security district that would govern the operations and maintenance costs of security infrastructure in the Houston Ship Channel is close to being created as Texas Gov. Rick Perry recently signed a new law establishing its rules.

Dubbed the Houston Ship Channel Security District, the private-public entity would generate money for security enhancements through assessments on facilities that lie within the district boundaries. The security district would also be charged with applying for federal security grants.

Any money the district earns would be used toward security projects of the district's choosing and act as the local match for federal grants …