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Texas Statutes (Last Updated: January 4, 2014) |
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SPECIAL DISTRICT LOCAL LAWS CODE |
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Title 4. DEVELOPMENT AND IMPROVEMENT |
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Subtitle C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT |
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Chapter 3900. MONTECILLO MUNICIPAL MANAGEMENT DISTRICT NO. 1 |
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Subchapter E. TAXES AND BONDS |
Sec. 3900.202. APPROVAL BY CITY; BOND ISSUANCE PLAN
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(a) Except as provided by Subsection (c), the district must obtain the approval of the city for:
(1) the issuance of bonds for an improvement project;
(2) the plans and specifications of an improvement project financed by the bonds; and
(3) the plans and specifications of an improvement project related to the use of land owned by the city, an easement granted by the city, or a right-of-way of a street, road, or highway.
(b) The district may not issue bonds until the governing body of the city approves a bond issuance plan authorizing and setting forth the limitations on the issuance of the bonds.
(c) If the district obtains the approval of the city of a capital improvements budget for a period not to exceed five years, the district may finance the capital improvements and issue bonds specified in the budget without further approval from the city.