Sec. 3911.251. DEVELOPMENT AGREEMENT REQUIRED TO BORROW MONEY OR IMPOSE TAXES OR ASSESSMENTS, INCLUDING BONDS. Before the district may issue bonds, impose taxes or assessments, or borrow money, the district and the city must negotiate and execute a 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 2011, 82nd Leg., R.S., Ch. 587 (H.B. 3852), Sec. 1, eff. June 17, 2011.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3911 - Midlothian Municipal Management District No. 2
Subchapter D. General Financial Provisions
Section 3911.252. Borrowing Money
Section 3911.253. General Powers Regarding Payment of District Bonds, Obligations, or Other Costs
Section 3911.255. Impact Fees; Exemption
Section 3911.256. Nonpotable Water User Charges; City Approval