CONSENT OF MUNICIPALITY AND DEVELOPMENT AGREEMENT REQUIRED.
Tex. SPEC. DIST. LOCAL LAWS Code § 8342.004.
in effect(a) The temporary directors may not hold an election under Section 8342.003 until each municipality in whose corporate limits or extraterritorial jurisdiction the district is located has:
(1) consented by ordinance or resolution to the creation of the district; and
(2) entered into a development agreement with the majority owner of the assessed value of the real property in the district.
(b) If a development agreement required under Subsection (a)(2) has not been entered into before September 1, 2010:
(1) the district is dissolved September 1, 2010, except that:
(A) any debts incurred shall be paid;
(B) any assets that remain after the payment of debts shall be transferred to Hood County; and
(C) the organization of the district shall be maintained until all debts are paid and remaining assets are transferred; and
(2) this chapter expires September 1, 2013.
Added by Acts 2009, 81st Leg., R.S., Ch. 422 (H.B. 2035 ), Sec. 1, eff. September 1, 2009.