Sec. 3981.0109. CITY CONSENT; OPERATING AGREEMENT AND PROJECT AGREEMENT REQUIRED. (a) Except as provided in Subsection (c), before the district may exercise any powers under this chapter:

(1) the city must adopt an ordinance or resolution consenting to the creation of the district and to the inclusion of land in the district;

(2) the city and the district must negotiate and execute a mutually approved and accepted operating agreement; and

(3) the city and each developer of property in the district must negotiate and execute a project agreement.

(b) This chapter expires December 31, 2020, if:

(1) the city and the district have not executed the operating agreement required by Subsection (a)(2); or

(2) the city and each developer of property in the district have not executed a project agreement as required by Subsection (a)(3).

(c) The board has the powers necessary, convenient, or desirable to negotiate and execute a mutually approved and accepted operating agreement.

Added by Acts 2019, 86th Leg., R.S., Ch. 1266 (H.B. 4693), Sec. 1, eff. June 14, 2019.