Sec. 3983.0503. BONDS AND OTHER OBLIGATIONS FOR IMPROVEMENT UNDER AGREEMENT. If an improvement will be financed by an obligation and the obligation will be secured by the pledge of assessments, the district must enter into an agreement, which may be the development agreement, governing the financing of the improvement before the issuance of the obligation. An obligation issued under this section may be in the form of bonds, notes, or other obligations, payable wholly or partly from assessments, and may be 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. 475 (H.B. 4733), 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 3983 - Oak Farms Municipal Management District
Section 3983.0501. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3983.0502. Bonds Secured by Revenue or Contract Payments
Section 3983.0503. Bonds and Other Obligations for Improvement Under Agreement