Sec. 3861.161. PROJECT DEVELOPMENT AGREEMENT REQUIRED TO IMPOSE TAXES OR BORROW MONEY, INCLUDING BONDS. Before the district may issue bonds, impose taxes, or borrow money, the district and the city must negotiate and execute a mutually approved and accepted interlocal 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.
Added by Acts 2007, 80th Leg., R.S., Ch. 531 (S.B. 919), Sec. 1, eff. June 16, 2007.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3861 - Viridian Municipal Management District
Subchapter D. General Financial Provisions
Section 3861.151. General Powers Regarding Financial Matters
Section 3861.152. Borrowing Money
Section 3861.153. Impact Fees and Assessments; Exemption
Section 3861.154. Certain Residential Property Not Exempt
Section 3861.155. Maintenance and Operation Tax; Election
Section 3861.156. Use of Surplus Maintenance and Operation Money
Section 3861.157. Bond Issuance Plan Required Before Issuing Bonds
Section 3861.158. Bonds and Other Obligations; Municipal Approval
Section 3861.159. Bond Maturity