Texas § 3926.156 DEVELOPMENT AND OPERATING AGREEMENT REQUIRED.

Texas Statutes

§ 3926.156 — DEVELOPMENT AND OPERATING AGREEMENT REQUIRED.

Texas § 3926.156

Code SDSpecial District Local Laws Code

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Bluebook

Tex. Special District Local Laws Code Code Ann. § 3926.156 (2026).

Text

Sec. 3926.156. DEVELOPMENT AND OPERATING AGREEMENT REQUIRED.

(a)After the district's board is organized, but before the district may undertake any improvement project, issue bonds, levy assessments or fees, or borrow money, the district, the city, and the owner of a majority of the assessed value of real property in the district according to the most recent certified tax rolls of the central appraisal district of the county must negotiate and execute a mutually approved and accepted development and operating agreement, including any limitations imposed by the city.

(b)An agreement authorized by this section is not effective until its terms and execution are approved by the board, the governing body of the city by ordinance or resolution, and the owner described by Subsection (a). SUBCHAP

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Sec. 3926.156. DEVELOPMENT AND OPERATING AGREEMENT REQUIRED. (a) After the district's board is organized, but before the district may undertake any improvement project, issue bonds, levy assessments or fees, or borrow money, the district, the city, and the owner of a majority of the assessed value of real property in the district according to the most recent certified tax rolls of the central appraisal district of the county must negotiate and execute a mutually approved and accepted development and operating agreement, including any limitations imposed by the city.
(b) An agreement authorized by this section is not effective until its terms and execution are approved by the board, the governing body of the city by ordinance or resolution, and the owner described by Subsection (a).
SUBCHAPTER D. DIVISION OF DISTRICT INTO MULTIPLE DISTRICTS