Sec. 3985.0507. CONSENT OF MUNICIPALITY AND AGREEMENT REQUIRED. (a) The board may not issue bonds until each municipality in whose corporate limits or extraterritorial jurisdiction the district is located has consented by ordinance or resolution to the creation of the district and to the inclusion of land in the district.
(b) Subsection (a) applies only to the district's first issuance of bonds payable from ad valorem taxes.
(c) The board may not impose taxes or assessments, borrow money, or issue obligations until the district and the city have entered into an agreement for the development of the property in the district and financing of improvement projects in the district.
Added by Acts 2019, 86th Leg., R.S., Ch. 472 (H.B. 4680), Sec. 1, eff. June 7, 2019.
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