Texas Local Government Code

§ 108.052 — BONDS AUTHORIZED UNDER PUBLIC IMPROVEMENT DISTRICT; ASSESSMENTS

LG § 108.052Title 4. FINANCES · Part A. MUNICIPAL FINANCES · Ch. 108. MUNICIPAL BONDS FOR CERTAIN DEFINED AREAS · Art. B. BONDS USED TO CARRY OUT PURPOSES OF

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(a)If, before its abolition, a municipal utility district voted to issue bonds secured by property taxes for a defined area under Section 54.806, Water Code, and if some or all of the bonds were not issued, sold, and delivered before the abolition, the governing body of the municipality that abolished the district may, on its own motion, establish a public improvement district under Subchapter A, Chapter 372, for the purpose of issuing and selling municipal bonds:

(1)in an amount not to exceed the amount of the unissued district bonds approved by the voters; and

(2)for the purpose of carrying out the purposes for which the district bonds were voted, including the cost of facilities constructed after creation of the defined area in accordance with the plan for improvements adopted by the board of directors of the abolished district.

(b)A municipality that establishes a public improvement district under this section may:

(1)enter into agreements with developers of property in the public improvement district for the construction, acquisition, expansion, improvement, or extension of improvements in the public improvement district;

(2)reimburse a developer for the costs of the improvements through assessments payable in installments on property in the public improvement district;

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Legislative history

Added by Acts 2007, 80th Leg., R.S., Ch. 813 (S.B. 1535), Sec. 1, eff. June 15, 2007.