Sec. 3994.0506. CONSENT OF MUNICIPALITY AND DEVELOPMENT AGREEMENT REQUIRED. (a) The board may not hold an election to authorize the issuance of bonds until:
(1) the governing body of a city by ordinance or resolution consents to the creation of the district and to the inclusion of land in the district; and
(2) the district, the governing body of the city that consents to the creation of the district as described by Subdivision (1), and the owner or owners of a majority of the assessed value of real property in the district negotiate and execute a mutually approved and accepted development and operating agreement, including any limitations imposed by the city.
(b) A city's consent under Subsection (a) must be granted in the manner provided by Section 54.016, Water Code, for including land within the corporate limits or extraterritorial jurisdiction of a city.
Added by Acts 2021, 87th Leg., R.S., Ch. 989 (H.B. 4628), Sec. 1, eff. June 18, 2021.
Structure Texas Statutes
Special District Local Laws Code
Title 4 - Development and Improvement
Subtitle C - Development, Improvement, and Management
Chapter 3994 - Veale Ranch Municipal Management District No. 1
Section 3994.0501. Tax Election Required
Section 3994.0502. Operation and Maintenance Tax
Section 3994.0503. Authority to Borrow Money and to Issue Bonds and Other Obligations
Section 3994.0504. Bonds Secured by Revenue or Contract Payments
Section 3994.0505. Bonds Secured by Ad Valorem Taxes; Elections
Section 3994.0506. Consent of Municipality and Development Agreement Required