Sec. 3971.0506. BONDS AND OTHER OBLIGATIONS FOR IMPROVEMENT UNDER AGREEMENT. If the improvements financed by an obligation will be conveyed to or operated and maintained by a municipality or retail utility provider pursuant to an agreement between the district and the municipality or retail utility provider entered into before the issuance of the obligation, the obligation may be in the form of bonds, notes, or other obligations payable wholly or partly from assessments, issued by public or private sale, in the manner provided by Subchapter A, Chapter 372, Local Government Code.
Added by Acts 2019, 86th Leg., R.S., Ch. 473 (H.B. 4694), Sec. 1, eff. June 7, 2019.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3971 - Sh130 Municipal Management District No. 1
Section 3971.0501. Tax Election Required
Section 3971.0502. Operation and Maintenance Tax
Section 3971.0503. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3971.0504. Bonds Secured by Revenue or Contract Payments
Section 3971.0505. Bonds Secured by Ad Valorem Taxes; Elections
Section 3971.0506. Bonds and Other Obligations for Improvement Under Agreement