Sec. 3886.104. PROJECT DEVELOPMENT AGREEMENT REQUIRED. Before the district may issue bonds, impose taxes, or borrow money, the district and the town must negotiate and execute a mutually approved and accepted interlocal project development agreement regarding the district's development plans and rules for:
(1) the development and operation of the district; and
(2) the financing of improvement projects.
Added by Acts 2009, 81st Leg., R.S., Ch. 1077 (H.B. 4752), Sec. 1, eff. September 1, 2009.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3886 - Prosper Management District No. 1
Subchapter C. Powers and Duties
Section 3886.101. General Powers and Duties
Section 3886.102. Municipal Management District Powers and Duties
Section 3886.103. Improvement Projects
Section 3886.104. Project Development Agreement Required
Section 3886.105. General Powers Regarding Contracts
Section 3886.106. Rules; Enforcement
Section 3886.108. Adding or Removing Territory
Section 3886.109. Economic Development