1 | 1 | | 87R11395 MCF-F |
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2 | 2 | | By: Springer S.B. No. 2252 |
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3 | 3 | | |
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4 | 4 | | |
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5 | 5 | | A BILL TO BE ENTITLED |
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6 | 6 | | AN ACT |
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7 | 7 | | relating to the creation of the TRR 243 Municipal Management |
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8 | 8 | | District; providing authority to issue bonds and impose |
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9 | 9 | | assessments, fees, and taxes. |
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10 | 10 | | BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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11 | 11 | | SECTION 1. Subtitle C, Title 4, Special District Local Laws |
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12 | 12 | | Code, is amended by adding Chapter 3793 to read as follows: |
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13 | 13 | | CHAPTER 3793. TRR 243 MUNICIPAL MANAGEMENT DISTRICT |
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14 | 14 | | SUBCHAPTER A. GENERAL PROVISIONS |
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15 | 15 | | Sec. 3793.0101. DEFINITIONS. In this chapter: |
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16 | 16 | | (1) "Board" means the district's board of directors. |
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17 | 17 | | (2) "City" means the City of Celina, Texas. |
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18 | 18 | | (3) "Commission" means the Texas Commission on |
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19 | 19 | | Environmental Quality. |
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20 | 20 | | (4) "Director" means a board member. |
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21 | 21 | | (5) "District" means the TRR 243 Municipal Management |
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22 | 22 | | District. |
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23 | 23 | | Sec. 3793.0102. CREATION AND NATURE OF DISTRICT. The |
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24 | 24 | | district is a special district created under Sections 52 and 52-a, |
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25 | 25 | | Article III, and Section 59, Article XVI, Texas Constitution. |
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26 | 26 | | Sec. 3793.0103. PURPOSE; LEGISLATIVE FINDINGS. (a) The |
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27 | 27 | | creation of the district is essential to accomplish the purposes of |
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28 | 28 | | Sections 52 and 52-a, Article III, and Section 59, Article XVI, |
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29 | 29 | | Texas Constitution, and other public purposes stated in this |
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30 | 30 | | chapter. By creating the district and in authorizing the city and |
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31 | 31 | | other political subdivisions to contract with the district, the |
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32 | 32 | | legislature has established a program to accomplish the public |
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33 | 33 | | purposes set out in Section 52-a, Article III, Texas Constitution. |
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34 | 34 | | (b) The creation of the district is necessary to promote, |
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35 | 35 | | develop, encourage, and maintain employment, commerce, |
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36 | 36 | | transportation, housing, tourism, recreation, the arts, |
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37 | 37 | | entertainment, economic development, safety, and the public |
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38 | 38 | | welfare in the district. |
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39 | 39 | | (c) This chapter and the creation of the district may not be |
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40 | 40 | | interpreted to relieve the city from providing the level of |
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41 | 41 | | services provided to the area in the district as of the effective |
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42 | 42 | | date of the Act enacting this chapter. The district is created to |
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43 | 43 | | supplement and not to supplant the city services provided in the |
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44 | 44 | | district. |
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45 | 45 | | Sec. 3793.0104. FINDINGS OF BENEFIT AND PUBLIC PURPOSE. |
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46 | 46 | | (a) The district is created to serve a public use and benefit. |
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47 | 47 | | (b) All land and other property included in the district |
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48 | 48 | | will benefit from the improvements and services to be provided by |
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49 | 49 | | the district under powers conferred by Sections 52 and 52-a, |
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50 | 50 | | Article III, and Section 59, Article XVI, Texas Constitution, and |
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51 | 51 | | other powers granted under this chapter. |
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52 | 52 | | (c) The district is created to accomplish the purposes of a |
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53 | 53 | | municipal management district as provided by general law and |
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54 | 54 | | Sections 52 and 52-a, Article III, and Section 59, Article XVI, |
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55 | 55 | | Texas Constitution. |
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56 | 56 | | (d) The creation of the district is in the public interest |
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57 | 57 | | and is essential to: |
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58 | 58 | | (1) further the public purposes of developing and |
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59 | 59 | | diversifying the economy of the state; |
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60 | 60 | | (2) eliminate unemployment and underemployment; |
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61 | 61 | | (3) develop or expand transportation and commerce; and |
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62 | 62 | | (4) provide quality residential housing. |
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63 | 63 | | (e) The district will: |
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64 | 64 | | (1) promote the health, safety, and general welfare of |
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65 | 65 | | residents, employers, potential employees, employees, visitors, |
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66 | 66 | | and consumers in the district, and of the public; |
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67 | 67 | | (2) provide needed funding for the district to |
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68 | 68 | | preserve, maintain, and enhance the economic health and vitality of |
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69 | 69 | | the district territory as a community and business center; and |
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70 | 70 | | (3) promote the health, safety, welfare, and enjoyment |
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71 | 71 | | of the public by providing pedestrian ways and by landscaping and |
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72 | 72 | | developing certain areas in the district, which are necessary for |
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73 | 73 | | the restoration, preservation, and enhancement of scenic beauty. |
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74 | 74 | | (f) Pedestrian ways along or across a street, whether at |
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75 | 75 | | grade or above or below the surface, and street lighting, street |
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76 | 76 | | landscaping, parking, and street art objects are parts of and |
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77 | 77 | | necessary components of a street and are considered to be a street |
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78 | 78 | | or road improvement. |
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79 | 79 | | (g) The district will not act as the agent or |
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80 | 80 | | instrumentality of any private interest even though the district |
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81 | 81 | | will benefit many private interests as well as the public. |
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82 | 82 | | Sec. 3793.0105. DISTRICT TERRITORY. (a) The district is |
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83 | 83 | | composed of the territory described by Section 2 of the Act enacting |
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84 | 84 | | this chapter, as that territory may have been modified under other |
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85 | 85 | | law. |
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86 | 86 | | (b) The boundaries and field notes contained in Section 2 of |
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87 | 87 | | the Act enacting this chapter form a closure. A mistake in the |
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88 | 88 | | field notes or in copying the field notes in the legislative process |
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89 | 89 | | does not affect the district's: |
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90 | 90 | | (1) organization, existence, or validity; |
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91 | 91 | | (2) right to contract; |
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92 | 92 | | (3) authority to borrow money or issue bonds or other |
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93 | 93 | | obligations described by Section 3793.0501 or to pay the principal |
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94 | 94 | | and interest of the bonds or other obligations; |
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95 | 95 | | (4) right to impose or collect an assessment, or |
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96 | 96 | | collect other revenue; or |
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97 | 97 | | (5) legality or operation. |
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98 | 98 | | Sec. 3793.0106. APPLICABILITY OF MUNICIPAL MANAGEMENT |
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99 | 99 | | DISTRICTS LAW. Except as otherwise provided by this chapter, |
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100 | 100 | | Chapter 375, Local Government Code, applies to the district. |
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101 | 101 | | Sec. 3793.0107. CONSTRUCTION OF CHAPTER. This chapter |
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102 | 102 | | shall be liberally construed in conformity with the findings and |
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103 | 103 | | purposes stated in this chapter. |
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104 | 104 | | Sec. 3793.0108. CONFLICTS OF LAW. This chapter prevails |
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105 | 105 | | over any provision of Chapter 375, Local Government Code, that is in |
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106 | 106 | | conflict or inconsistent with this chapter. |
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107 | 107 | | Sec. 3793.0109. CONSENT OF MUNICIPALITY AND DEVELOPMENT |
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108 | 108 | | AGREEMENT REQUIRED. (a) The board may not hold an election to |
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109 | 109 | | authorize the issuance of bonds until: |
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110 | 110 | | (1) the governing body of the city by ordinance or |
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111 | 111 | | resolution consents to the creation of the district and to the |
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112 | 112 | | inclusion of land in the district; and |
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113 | 113 | | (2) the governing body of the city has entered into a |
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114 | 114 | | development agreement with the owner of a majority of the land in |
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115 | 115 | | the district. |
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116 | 116 | | (b) The city's consent must be granted in the manner |
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117 | 117 | | provided by Section 54.016, Water Code, for including land within |
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118 | 118 | | the corporate limits or extraterritorial jurisdiction of a city. |
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119 | 119 | | SUBCHAPTER B. BOARD OF DIRECTORS |
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120 | 120 | | Sec. 3793.0201. GOVERNING BODY; TERMS. The district is |
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121 | 121 | | governed by a board of five directors who serve staggered terms of |
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122 | 122 | | four years, with two or three directors' terms expiring June 1 of |
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123 | 123 | | each even-numbered year. One director is appointed by the city, and |
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124 | 124 | | four directors are appointed by the commission as provided by |
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125 | 125 | | Sections 3793.0202 and 3793.0203, respectively. |
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126 | 126 | | Sec. 3793.0202. APPOINTMENT AND REMOVAL OF DIRECTOR |
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127 | 127 | | APPOINTED BY CITY. (a) The governing body of the city shall |
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128 | 128 | | appoint one director who must be: |
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129 | 129 | | (1) at least 18 years of age; and |
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130 | 130 | | (2) a resident of the city. |
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131 | 131 | | (b) At any time the governing body of the city may remove the |
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132 | 132 | | director appointed by the city and appoint a director to serve the |
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133 | 133 | | remainder of the removed director's term. |
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134 | 134 | | Sec. 3793.0203. APPOINTMENT BY COMMISSION. (a) Before the |
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135 | 135 | | term of a director other than a director appointed under Section |
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136 | 136 | | 3793.0202 expires, the board shall recommend to the commission the |
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137 | 137 | | appropriate number of persons to serve as successor directors. The |
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138 | 138 | | commission shall appoint as directors the persons recommended by |
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139 | 139 | | the board. |
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140 | 140 | | (b) A person recommended by the board under Subsection (a) |
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141 | 141 | | must be: |
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142 | 142 | | (1) at least 18 years of age; |
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143 | 143 | | (2) an owner of property in the district; |
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144 | 144 | | (3) an owner of stock, whether beneficial or |
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145 | 145 | | otherwise, of a corporate owner of property in the district; |
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146 | 146 | | (4) an owner of a beneficial interest in a trust that |
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147 | 147 | | owns property in the district; or |
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148 | 148 | | (5) an agent, employee, or tenant of a person |
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149 | 149 | | described by Subdivision (2), (3), or (4). |
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150 | 150 | | Sec. 3793.0204. VACANCY. If a vacancy occurs on the board, |
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151 | 151 | | the remaining directors shall appoint a director for the remainder |
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152 | 152 | | of the unexpired term. |
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153 | 153 | | Sec. 3793.0205. DIRECTOR'S OATH OR AFFIRMATION. (a) A |
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154 | 154 | | director shall file the director's oath or affirmation of office |
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155 | 155 | | with the district, and the district shall retain the oath or |
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156 | 156 | | affirmation in the district records. |
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157 | 157 | | (b) A director shall file a copy of the director's oath or |
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158 | 158 | | affirmation with the secretary of the city. |
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159 | 159 | | Sec. 3793.0206. OFFICERS. The board shall elect from among |
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160 | 160 | | the directors a chair, a vice chair, and a secretary. The offices |
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161 | 161 | | of chair and secretary may not be held by the same person. |
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162 | 162 | | Sec. 3793.0207. COMPENSATION; EXPENSES. (a) The district |
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163 | 163 | | may compensate each director in an amount not to exceed $150 for |
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164 | 164 | | each board meeting. The total amount of compensation a director may |
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165 | 165 | | receive each year may not exceed $7,200. |
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166 | 166 | | (b) A director is entitled to reimbursement for necessary |
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167 | 167 | | and reasonable expenses incurred in carrying out the duties and |
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168 | 168 | | responsibilities of the board. |
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169 | 169 | | Sec. 3793.0208. LIABILITY INSURANCE. The district may |
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170 | 170 | | obtain and pay for comprehensive general liability insurance |
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171 | 171 | | coverage from a commercial insurance company or other source that |
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172 | 172 | | protects and insures a director against personal liability and from |
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173 | 173 | | all claims relating to: |
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174 | 174 | | (1) actions taken by the director in the director's |
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175 | 175 | | capacity as a member of the board; |
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176 | 176 | | (2) actions and activities taken by the district; or |
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177 | 177 | | (3) the actions of others acting on behalf of the |
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178 | 178 | | district. |
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179 | 179 | | Sec. 3793.0209. NO EXECUTIVE COMMITTEE. The board may not |
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180 | 180 | | create an executive committee to exercise the powers of the board. |
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181 | 181 | | Sec. 3793.0210. INITIAL DIRECTORS. (a) On or after |
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182 | 182 | | September 1, 2021, the owner or owners of a majority of the assessed |
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183 | 183 | | value of the real property in the district according to the most |
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184 | 184 | | recent certified tax appraisal rolls for the county may submit a |
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185 | 185 | | petition to the commission requesting that the commission appoint |
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186 | 186 | | as initial directors the four persons named in the petition. The |
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187 | 187 | | commission shall appoint as initial directors the four persons |
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188 | 188 | | named in the petition. |
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189 | 189 | | (b) The governing body of the city shall appoint one initial |
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190 | 190 | | director. |
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191 | 191 | | (c) The initial directors shall determine by lot which three |
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192 | 192 | | positions expire June 1, 2023, and which two positions expire June |
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193 | 193 | | 1, 2025. |
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194 | 194 | | (d) This section expires September 1, 2023. |
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195 | 195 | | SUBCHAPTER C. POWERS AND DUTIES |
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196 | 196 | | Sec. 3793.0301. GENERAL POWERS AND DUTIES. The district |
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197 | 197 | | has the powers and duties necessary to accomplish the purposes for |
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198 | 198 | | which the district is created. |
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199 | 199 | | Sec. 3793.0302. IMPROVEMENT PROJECTS AND SERVICES. (a) |
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200 | 200 | | Subject to Subsection (b), the district may provide, design, |
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201 | 201 | | construct, acquire, improve, relocate, operate, maintain, or |
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202 | 202 | | finance an improvement project or service using money available to |
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203 | 203 | | the district, or contract with a governmental or private entity to |
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204 | 204 | | provide, design, construct, acquire, improve, relocate, operate, |
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205 | 205 | | maintain, or finance an improvement project or service authorized |
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206 | 206 | | under this chapter or Chapter 375, Local Government Code. |
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207 | 207 | | (b) The district may not construct or finance an improvement |
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208 | 208 | | project, other than a water, sewer, or drainage facility or road, |
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209 | 209 | | unless the governing body of the city by ordinance or resolution |
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210 | 210 | | consents to the construction or financing. |
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211 | 211 | | (c) The district may issue bonds, notes, or other |
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212 | 212 | | obligations to maintain or repair an existing improvement project |
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213 | 213 | | only if the governing body of the city by ordinance or resolution |
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214 | 214 | | consents to the issuance. |
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215 | 215 | | Sec. 3793.0303. LOCATION OF IMPROVEMENT PROJECT. A |
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216 | 216 | | district improvement project may be located inside or outside of |
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217 | 217 | | the district. |
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218 | 218 | | Sec. 3793.0304. OWNERSHIP OF IMPROVEMENT PROJECTS. (a) |
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219 | 219 | | Before a district improvement project may be put into operation, |
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220 | 220 | | the district must transfer ownership of the project to the city. |
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221 | 221 | | (b) The transfer of ownership is complete on the city's |
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222 | 222 | | acceptance of ownership. |
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223 | 223 | | Sec. 3793.0305. RETAIL WATER AND SEWER SERVICES PROHIBITED. |
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224 | 224 | | The district may not provide retail water or sewer services. |
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225 | 225 | | Sec. 3793.0306. ADDING OR REMOVING TERRITORY. (a) Subject |
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226 | 226 | | to Subsection (b), the board may add or remove territory as provided |
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227 | 227 | | by Subchapter J, Chapter 49, Water Code. |
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228 | 228 | | (b) The district may add territory as described by |
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229 | 229 | | Subsection (a) only if the governing body of the city by ordinance |
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230 | 230 | | or resolution consents to the addition. |
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231 | 231 | | Sec. 3793.0307. NO EMINENT DOMAIN POWER. The district may |
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232 | 232 | | not exercise the power of eminent domain. |
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233 | 233 | | SUBCHAPTER D. GENERAL FINANCIAL PROVISIONS; ASSESSMENTS |
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234 | 234 | | Sec. 3793.0401. DISBURSEMENTS AND TRANSFERS OF MONEY. The |
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235 | 235 | | board by resolution shall establish the number of directors' |
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236 | 236 | | signatures and the procedure required for a disbursement or |
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237 | 237 | | transfer of the district's money. |
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238 | 238 | | Sec. 3793.0402. MONEY USED FOR IMPROVEMENTS OR SERVICES. |
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239 | 239 | | The district may acquire, construct, or finance an improvement |
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240 | 240 | | project or service authorized by this chapter or Chapter 375, Local |
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241 | 241 | | Government Code, using any money available to the district. |
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242 | 242 | | Sec. 3793.0403. METHOD OF NOTICE FOR HEARING. The district |
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243 | 243 | | may mail the notice required by Section 375.115(c), Local |
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244 | 244 | | Government Code, by certified or first class United States mail. |
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245 | 245 | | The board shall determine the method of notice. |
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246 | 246 | | Sec. 3793.0404. ASSESSMENTS; LIENS FOR ASSESSMENTS. (a) |
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247 | 247 | | The board by resolution may impose and collect an assessment for any |
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248 | 248 | | purpose authorized by this chapter in all or any part of the |
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249 | 249 | | district. |
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250 | 250 | | (b) An assessment, a reassessment, or an assessment |
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251 | 251 | | resulting from an addition to or correction of the assessment roll |
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252 | 252 | | by the district, penalties and interest on an assessment or |
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253 | 253 | | reassessment, an expense of collection, and reasonable attorney's |
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254 | 254 | | fees incurred by the district are: |
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255 | 255 | | (1) a first and prior lien against the property |
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256 | 256 | | assessed; |
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257 | 257 | | (2) superior to any other lien or claim other than a |
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258 | 258 | | lien or claim for county, school district, or municipal ad valorem |
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259 | 259 | | taxes; and |
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260 | 260 | | (3) the personal liability of and a charge against the |
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261 | 261 | | owners of the property even if the owners are not named in the |
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262 | 262 | | assessment proceedings. |
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263 | 263 | | (c) The lien is effective from the date of the board's |
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264 | 264 | | resolution imposing the assessment until the date the assessment is |
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265 | 265 | | paid. The board may enforce the lien in the same manner that the |
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266 | 266 | | board may enforce an ad valorem tax lien against real property. |
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267 | 267 | | (d) The board may make a correction to or deletion from the |
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268 | 268 | | assessment roll that does not increase the amount of assessment of |
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269 | 269 | | any parcel of land without providing notice and holding a hearing in |
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270 | 270 | | the manner required for additional assessments. |
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271 | 271 | | (e) The district may not impose an assessment on a |
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272 | 272 | | municipality, county, or other political subdivision. |
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273 | 273 | | Sec. 3793.0405. NOTICE OF ASSESSMENTS. Annually, the board |
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274 | 274 | | shall file with the secretary of the city written notice that |
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275 | 275 | | specifies the assessments the district will impose in the |
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276 | 276 | | district's next fiscal year in sufficient clarity to describe the |
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277 | 277 | | assessments for the operation and maintenance of the district and |
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278 | 278 | | the assessments for the payment of debt service of obligations |
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279 | 279 | | issued or incurred by the district. |
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280 | 280 | | SUBCHAPTER E. TAXES AND BONDS |
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281 | 281 | | Sec. 3793.0501. BONDS AND OTHER OBLIGATIONS. (a) The |
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282 | 282 | | district may issue, by public or private sale, bonds, notes, or |
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283 | 283 | | other obligations payable wholly or partly from ad valorem taxes or |
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284 | 284 | | assessments in the manner provided by Subchapter A, Chapter 372, or |
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285 | 285 | | Subchapter J, Chapter 375, Local Government Code. |
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286 | 286 | | (b) In exercising the district's borrowing power, the |
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287 | 287 | | district may issue a bond or other obligation in the form of a bond, |
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288 | 288 | | note, certificate of participation or other instrument evidencing a |
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289 | 289 | | proportionate interest in payments to be made by the district, or |
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290 | 290 | | other type of obligation. |
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291 | 291 | | (c) In addition to the sources of money described by |
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292 | 292 | | Subchapter A, Chapter 372, and Subchapter J, Chapter 375, Local |
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293 | 293 | | Government Code, district bonds may be secured and made payable |
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294 | 294 | | wholly or partly by a pledge of any part of the money the district |
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295 | 295 | | receives from improvement revenue or from any other source. |
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296 | 296 | | (d) Not later than the 30th day before the date the district |
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297 | 297 | | holds a bond sale, the district shall provide the governing body of |
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298 | 298 | | the city written notice of the sale. |
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299 | 299 | | Sec. 3793.0502. CITY APPROVAL NOT REQUIRED. Section |
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300 | 300 | | 375.207, Local Government Code, does not apply to the district. |
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301 | 301 | | SUBCHAPTER F. DISSOLUTION |
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302 | 302 | | Sec. 3793.0601. DISSOLUTION BY CITY ORDINANCE. (a) The |
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303 | 303 | | governing body of the city may dissolve the district by ordinance. |
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304 | 304 | | (b) The governing body may not dissolve the district until: |
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305 | 305 | | (1) water, sanitary, sewer, and drainage improvements |
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306 | 306 | | and roads have been constructed to serve at least 90 percent of the |
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307 | 307 | | developable territory of the district; and |
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308 | 308 | | (2) the district has reimbursed each party that has an |
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309 | 309 | | agreement with the district for all costs advanced to or on behalf |
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310 | 310 | | of the district. |
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311 | 311 | | (c) Until the district is dissolved, the district is |
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312 | 312 | | responsible for all bonds and other obligations of the district. |
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313 | 313 | | Sec. 3793.0602. COLLECTION OF ASSESSMENTS AND OTHER |
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314 | 314 | | REVENUE. (a) If the dissolved district has bonds or other |
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315 | 315 | | obligations outstanding secured by and payable from assessments or |
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316 | 316 | | other revenue, other than revenue from ad valorem taxes, the city |
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317 | 317 | | shall succeed to the rights and obligations of the district |
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318 | 318 | | regarding enforcement and collection of the assessments or other |
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319 | 319 | | revenue. |
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320 | 320 | | (b) The city shall have and exercise all district powers to |
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321 | 321 | | enforce and collect the assessments or other revenue to pay: |
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322 | 322 | | (1) the bonds or other obligations when due and |
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323 | 323 | | payable according to their terms; or |
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324 | 324 | | (2) special revenue or assessment bonds or other |
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325 | 325 | | obligations issued by the city to refund the outstanding bonds or |
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326 | 326 | | obligations. |
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327 | 327 | | Sec. 3793.0603. ASSUMPTION OF ASSETS AND LIABILITIES. (a) |
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328 | 328 | | After the city dissolves the district, the city assumes, subject to |
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329 | 329 | | the appropriation and availability of funds, the obligations of the |
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330 | 330 | | district, including any bonds or other debt payable from |
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331 | 331 | | assessments or other district revenue. |
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332 | 332 | | (b) If the city dissolves the district, the board shall |
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333 | 333 | | transfer ownership of all district property to the city. |
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334 | 334 | | SUBCHAPTER G. SPECIAL BOND PROVISIONS |
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335 | 335 | | Sec. 3793.0701. APPLICABILITY. This subchapter applies |
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336 | 336 | | only to bonds payable wholly or partly from revenue derived from |
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337 | 337 | | assessments on real property in the district. |
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338 | 338 | | Sec. 3793.0702. CONFLICT OF LAWS. In the event of a |
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339 | 339 | | conflict between this subchapter and any other law, this subchapter |
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340 | 340 | | prevails. |
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341 | 341 | | Sec. 3793.0703. WRITTEN AGREEMENT REGARDING SPECIAL |
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342 | 342 | | APPRAISALS. Before the district may issue bonds, the district and |
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343 | 343 | | any person to whom the board intends that proceeds of the bonds be |
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344 | 344 | | distributed, including the developer, another owner of land in the |
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345 | 345 | | district, and any entity acting as a lender to the developer or |
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346 | 346 | | other landowner for the purpose of a project relating to the |
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347 | 347 | | district, must enter into a written agreement that: |
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348 | 348 | | (1) waives for the term of the agreement the right to a |
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349 | 349 | | special appraisal with respect to taxation by the district under |
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350 | 350 | | Subchapters B, C, D, E, F, and H, Chapter 23, Tax Code; and |
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351 | 351 | | (2) remains in effect for 30 years and is binding on |
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352 | 352 | | the parties, on entities related to or affiliated with the parties, |
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353 | 353 | | and on their successors and assignees. |
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354 | 354 | | Sec. 3793.0704. REQUIREMENTS FOR ADVERTISING BOND ISSUE. A |
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355 | 355 | | district may not advertise for an issuance of bonds until the |
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356 | 356 | | completion of at least 25 percent of the projected value of the |
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357 | 357 | | improvements, including houses and other buildings, that are liable |
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358 | 358 | | for district assessments and necessary to support the district |
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359 | 359 | | bonds. |
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360 | 360 | | Sec. 3793.0705. REQUIREMENTS FOR BOND ISSUE. The district |
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361 | 361 | | may not issue bonds until: |
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362 | 362 | | (1) the district submits to the commission: |
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363 | 363 | | (A) an engineer's report describing the project |
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364 | 364 | | for which the bonds will provide funding, including data, profiles, |
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365 | 365 | | maps, plans, and specifications related to the project; and |
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366 | 366 | | (B) a cash flow analysis to determine the |
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367 | 367 | | projected rate of assessment, which includes the following |
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368 | 368 | | assumptions: |
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369 | 369 | | (i) each ending balance for debt service in |
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370 | 370 | | the analysis is not less than 25 percent of the following year's |
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371 | 371 | | debt service requirement; |
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372 | 372 | | (ii) interest income is only shown on the |
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373 | 373 | | ending balance for debt service for the first two years; and |
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374 | 374 | | (iii) the projected rate of assessment is |
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375 | 375 | | level or decreasing for the life of the bonds issued by the |
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376 | 376 | | district; |
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377 | 377 | | (2) the completion of at least 75 percent of the |
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378 | 378 | | projected value of the improvements, including houses and other |
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379 | 379 | | buildings, that are liable for district assessments and necessary |
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380 | 380 | | to support the district bonds; and |
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381 | 381 | | (3) the district has obtained an independent market |
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382 | 382 | | study from a firm recognized in the area of real estate market |
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383 | 383 | | analysis supporting the development projects for the real property |
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384 | 384 | | that is liable for district assessments and necessary to support |
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385 | 385 | | the district bonds. |
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386 | 386 | | Sec. 3793.0706. REQUIREMENTS FOR COLLECTION OF REVENUE TO |
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387 | 387 | | PAY BONDS. The district may not collect an assessment to be used |
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388 | 388 | | for the payment of bonds until: |
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389 | 389 | | (1) the completion of at least 95 percent of the |
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390 | 390 | | underground water, wastewater, and drainage facilities financed |
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391 | 391 | | from bond proceeds that are necessary to serve the projected |
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392 | 392 | | build-out, as certified by the district's engineer; |
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393 | 393 | | (2) the district or other appropriate party has |
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394 | 394 | | secured the groundwater, surface water, and water discharge permits |
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395 | 395 | | that are necessary to secure capacity to support the projected |
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396 | 396 | | build-out; |
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397 | 397 | | (3) the completion of at least 95 percent of lift |
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398 | 398 | | station, water plant, and sewage treatment plant capacity |
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399 | 399 | | sufficient to serve the connections constructed in the project for |
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400 | 400 | | a period of not less than 18 months, as certified by the district's |
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401 | 401 | | engineer; and |
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402 | 402 | | (4) the completion of at least 95 percent of the |
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403 | 403 | | streets and roads that are necessary to provide access to the areas |
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404 | 404 | | served by utilities and financed by the proceeds of bonds issued by |
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405 | 405 | | the district, as certified by the district's engineer and |
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406 | 406 | | constructed in accordance with municipal or county standards. |
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407 | 407 | | SECTION 2. The TRR 243 Municipal Management District |
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408 | 408 | | initially includes all the territory contained in the following |
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409 | 409 | | area: |
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410 | 410 | | BEING that certain tract of land situated in the Collin County |
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411 | 411 | | School Land Survey, Abstract No. 168, Collin County, Texas, and |
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412 | 412 | | being all of that certain called 243.820 acre tract of land as |
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413 | 413 | | conveyed to Laura Latham Shinker, Elizabeth Brent and David Brent, |
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414 | 414 | | as recorded in Volume 967, Page 705 of the Deed Records of Collin |
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415 | 415 | | County, Texas, and also being all of that certain called 243.859 |
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416 | 416 | | acre tract of land as conveyed to Godwin Family Investments, Ltd., |
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417 | 417 | | by deed recorded in Volume 5634, Page 3372, said Deed Records, and |
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418 | 418 | | being more particularly described by metes and bounds as follows: |
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419 | 419 | | BEGINNING at a 5/8 inch iron rod found for the southeast corner of |
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420 | 420 | | said Godwin Family Investments tract, same being the southwest |
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421 | 421 | | corner of that certain tract of land to Carol J. King or Julia King |
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422 | 422 | | Needum, and their Successors, as Trustee of the King Family Trust, |
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423 | 423 | | as recorded in Instrument no. 2012102200134910, Official Public |
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424 | 424 | | Records, Collin County, Texas, same being in the north right-of-way |
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425 | 425 | | line of F.M. Highway 428 (a 105' public right-of-way at this point); |
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426 | 426 | | THENCE Sough 89 deg. 59 min. 43 sec. West, along the common line of |
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427 | 427 | | said Godwin Family Investments tract, and the north right-of-way |
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428 | 428 | | line of said F. M. Highway No. 428, a distance of 2602.61 feet to a |
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429 | 429 | | 1/2 inch iron pipe found for the most southerly southwest corner of |
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430 | 430 | | said Godwin Family Investments tract; |
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431 | 431 | | THENCE North 45 deg. 11 min. 54 sec. West, continuing along the |
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432 | 432 | | common line of said Godwin Family Investments tract, and the north |
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433 | 433 | | right-of-way line of said F. M. Highway 428, a distance of 42.50 |
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434 | 434 | | feet to a point; |
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435 | 435 | | THENCE South 89 deg. 59 min. 06 sec. West, continuing along the |
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436 | 436 | | common line of said Godwin Family Investments tract, and the north |
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437 | 437 | | right-of-way line of said F. M. Highway No. 428, a distance of 17.50 |
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438 | 438 | | feet to a 1/2 inch iron rod found in the approximate center of |
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439 | 439 | | County Road No. 54 (a gravel paved prescriptive right-of-way); |
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440 | 440 | | THENCE North 00 deg. 02 min. 21 sec. West, along the west line of |
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441 | 441 | | said Godwin Family Investments tract, and generally along the |
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442 | 442 | | centerline of said County Road No. 54, a distance of 3965.31 feet to |
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443 | 443 | | a 3/8 inch rod found for the northwest corner of said Godwin Family |
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444 | 444 | | Investments tract, same being the southwest corner of that certain |
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445 | 445 | | tract of land to Michael C. Hollifield and wife, Deborah Baker |
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446 | 446 | | Hollifield, husband and wife, by deed recorded in Volume 5696, Page |
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447 | 447 | | 1982, aforesaid Deed Records; |
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448 | 448 | | THENCE South 89 deg. 57 min. 51 sec. East, along the common line of |
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449 | 449 | | said Godwin Family Investments tract, and said Hollifield tract, |
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450 | 450 | | passing the southeast corner of said Hollifield tract, same being |
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451 | 451 | | the southwest corner of that certain tract of land to the Pollard |
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452 | 452 | | Family Living Trust, by deed recorded in County Clerk's File |
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453 | 453 | | No. 20120608000680240, aforesaid Official Public Records, and |
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454 | 454 | | continuing along the common line of said Godwin Family Investments |
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455 | 455 | | tract, and said Pollard tract, a total distance of 2669.06 feet to a |
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456 | 456 | | 3/4 inch iron rod found for the northeast corner of said Godwin |
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457 | 457 | | Family Investments tract, same being the southeast corner of said |
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458 | 458 | | Pollard tract, same being in the west line of that certain tract of |
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459 | 459 | | land to Douglas J. Barker and wife, Saundra Barker, by deed recorded |
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460 | 460 | | in Volume 1159, Page 423, said Deed Records; |
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461 | 461 | | THENCE South 00 deg. 14 min. 32 sec. West, along common line of said |
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462 | 462 | | Godwin Family Investments tract, and said Pollard tract, passing |
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463 | 463 | | the southwest corner of said Pollard tract, same being the most |
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464 | 464 | | northerly northwest corner of that certain tract of land to Old |
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465 | 465 | | Celina, Ltd., by deed recorded in Volume 5208, Page 3376, said Deed |
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466 | 466 | | Records, and continuing along the common line of said Godwin Family |
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467 | 467 | | Investments tract, and said Old Celina tract, a total distance of |
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468 | 468 | | 1400.08 feet to a Bois d' Arc Fence found for the most westerly |
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469 | 469 | | southwest corner of said Old Celina tract, same being the northwest |
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470 | 470 | | corner of aforesaid King tract; |
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471 | 471 | | THENCE South 00 deg. 13 min. 28 sec. West, along the common line of |
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472 | 472 | | said Godwin Family Investments tract, and said King tract, a |
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473 | 473 | | distance of 2593.32 feet to the POINT OF BEGINNING and containing |
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474 | 474 | | 243.846 acres of computed land, more or less. |
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475 | 475 | | SECTION 3. (a) The legal notice of the intention to |
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476 | 476 | | introduce this Act, setting forth the general substance of this |
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477 | 477 | | Act, has been published as provided by law, and the notice and a |
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478 | 478 | | copy of this Act have been furnished to all persons, agencies, |
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479 | 479 | | officials, or entities to which they are required to be furnished |
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480 | 480 | | under Section 59, Article XVI, Texas Constitution, and Chapter 313, |
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481 | 481 | | Government Code. |
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482 | 482 | | (b) The governor, one of the required recipients, has |
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483 | 483 | | submitted the notice and Act to the Texas Commission on |
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484 | 484 | | Environmental Quality. |
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485 | 485 | | (c) The Texas Commission on Environmental Quality has filed |
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486 | 486 | | its recommendations relating to this Act with the governor, |
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487 | 487 | | lieutenant governor, and speaker of the house of representatives |
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488 | 488 | | within the required time. |
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489 | 489 | | (d) All requirements of the constitution and laws of this |
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490 | 490 | | state and the rules and procedures of the legislature with respect |
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491 | 491 | | to the notice, introduction, and passage of this Act have been |
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492 | 492 | | fulfilled and accomplished. |
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493 | 493 | | SECTION 4. This Act takes effect September 1, 2021. |
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