Sec. 3980.0708. OPERATING AGREEMENT AND PROJECT AGREEMENT. (a) Except as provided by Subsection (b), before a new district created by division of the district may exercise any powers under this chapter:

(1) the new district must enter into:

(A) a joinder to the existing operating agreement between the city and the district; or

(B) a separate operating agreement with the city; and

(2) each developer of property in the new district must enter into:

(A) a joinder to an existing project agreement between the city and a developer of property in the district applicable to the territory in the new district; or

(B) a separate project agreement with the city.

(b) A new district created by division of the district has the powers necessary, convenient, or desirable to negotiate and execute an agreement described by Subsection (a).

Added by Acts 2019, 86th Leg., R.S., Ch. 556 (H.B. 4683), Sec. 1, eff. June 10, 2019.