Sec. 3902.255. QUARTERLY REPORTING. (a) After the district incurs an obligation described by Section 3902.253 and until all obligations of the district are paid in full or otherwise satisfied, the district shall submit a quarterly financial report to the city.
(b) The report must be based on sound accounting methods and detail:
(1) the obligation incurred;
(2) the amount of the obligation that has been repaid; and
(3) any other information the city requires.
Added by Acts 2011, 82nd Leg., R.S., Ch. 1195 (H.B. 3859), Sec. 1, eff. September 1, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3902 - Club Municipal Management District No. 1
Subchapter E. General Financial Provisions; Assessments
Section 3902.251. Disbursements and Transfers of Money
Section 3902.252. Money Used for Improvements or Services
Section 3902.253. Borrowing Money; Obligations
Section 3902.254. Development Agreement, Capital Improvement Plan, and Financial Plan Required
Section 3902.255. Quarterly Reporting
Section 3902.257. Notice of Assessments
Section 3902.258. Bonds for Road Projects
Section 3902.259. City Not Required to Pay District Obligations
Section 3902.260. Tax and Assessment Abatements
Section 3902.261. Residential Property Not Exempt