PROJECT DEVELOPMENT AGREEMENT REQUIRED TO UNDERTAKE PROJECTS, IMPOSE TAXES, OR BORROW MONEY, INCLUDING BONDS.
Tex. SPEC. DIST. LOCAL LAWS Code § 3869.160.
in effect(a) Before the district may undertake projects, issue bonds, impose taxes, or borrow money, the district and the city must negotiate and execute a mutually approved and accepted project development agreement regarding the development plans and rules for:
(1) the development and operation of the district; and
(2) the financing of improvement projects.
(b) The agreement must:
(1) describe each project the district intends to undertake;
(2) include a financing plan specifying how each project will be financed; and
(3) provide a procedure and rules for amending the agreement.
Added by Acts 2009, 81st Leg., R.S., Ch. 888 (S.B. 2550 ), Sec. 1, eff. June 19, 2009.
SUBCHAPTER E. DISSOLUTION