Section 7987.004 - Consent of Municipality and Development Agreement Required(a) The temporary directors may not hold an election under Section 7987.003, undertake an improvement project, impose taxes or fees, or issue bonds or otherwise borrow money 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 to the inclusion of land in the district; and(2) entered into a development agreement under Section 212.172, Local Government Code, with an owner or owners of a majority of the land described by Section 2 of the Act enacting this chapter.(b) If a development agreement described by Subsection (a)(2) has not been executed before March 1, 2019:(1) the temporary directors may not call a confirmation election under Section 7987.003;(2) the district is dissolved; and(3) this chapter expires March 1, 2020.Tex. Spec. Dist. Loc. Laws § 7987.004
Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 797,Sec. 1, eff. 9/1/2017.