Sec. 3885.254. DEVELOPMENT AGREEMENT. Before the district borrows money or issues an obligation under Section 3885.253, the city must provide written certification to the district that no party to the development agreement is in default as of the date the district is authorized to borrow the money or enter the obligation.
Added by Acts 2011, 82nd Leg., R.S., Ch. 706 (H.B. 534), Sec. 2.01, eff. September 1, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3885 - Mustang Ranch Municipal Management District No. 1
Subchapter E. General Financial Provisions; Assessments
Section 3885.251. Disbursements and Transfers of Money
Section 3885.252. Money Used for Improvements or Services
Section 3885.253. Borrowing Money; Obligations
Section 3885.254. Development Agreement
Section 3885.256. Notice of Assessments
Section 3885.257. Residential Property Not Exempt