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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 6. WATER AND WASTEWATER |
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Subtitle F. MUNICIPAL UTILITY DISTRICTS |
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Chapter 8342. HOOD COUNTY GRANBURY MUNICIPAL UTILITY DISTRICT NO. 1 |
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Subchapter A. GENERAL PROVISIONS |
Sec. 8342.004. CONSENT OF MUNICIPALITY AND DEVELOPMENT AGREEMENT REQUIRED
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(a) The temporary directors may not hold an election under Section 8342.003 until each municipality in whose corporate limits or extraterritorial jurisdiction the district is located has:
(1) consented by ordinance or resolution to the creation of the district; and
(2) entered into a development agreement with the majority owner of the assessed value of the real property in the district.
(b) If a development agreement required under Subsection (a)(2) has not been entered into before September 1, 2010:
(1) the district is dissolved September 1, 2010, except that:
(A) any debts incurred shall be paid;
(B) any assets that remain after the payment of debts shall be transferred to Hood County; and
(C) the organization of the district shall be maintained until all debts are paid and remaining assets are transferred; and
(2) this chapter expires September 1, 2013.