89R20600 JTZ-F
By: Parker S.B. No. 3052
A BILL TO BE ENTITLED
AN ACT
relating to the powers and duties and validating certain acts and
proceedings of the Cole Ranch Improvement District No. 1 of Denton
County, Texas.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
SECTION 1. Section 3981.0503, Special District Local Laws
Code, is amended by amending Subsection (c) and adding Subsection
(d) to read as follows:
(c) The principal amount of bonds secured by ad valorem
taxes issued by the district in aggregate may not exceed 10 percent
of the assessed value of all real property in the district.
(d) The outstanding principal amount of bonds secured by
contract payments meeting the requirements of Section 3981.0504(2)
issued by the district in the aggregate may not exceed an amount
equal to 10 percent of the assessed value of all real property in
all districts making payments under the contract.
SECTION 2. (a) The legislature validates and confirms all
governmental acts and proceedings of the Cole Ranch Improvement
District No. 1 of Denton County, Texas, that were taken before the
effective date of this Act.
(b) This section does not apply to any matter that on the
effective date of this Act:
(1) is involved in litigation if the litigation
ultimately results in the matter being held invalid by a final court
judgment; or
(2) has been held invalid by a final court judgment.
SECTION 3. The Cole Ranch Improvement District No. 1 of
Denton County, Texas, retains all the rights, powers, privileges,
authority, duties, and functions that it had before the effective
date of this Act.
SECTION 4. (a) The legal notice of the intention to
introduce this Act, setting forth the general substance of this
Act, has been published as provided by law, and the notice and a
copy of this Act have been furnished to all persons, agencies,
officials, or entities to which they are required to be furnished
under Section 59, Article XVI, Texas Constitution, and Chapter 313,
Government Code.
(b) The governor, one of the required recipients, has
submitted the notice and Act to the Texas Commission on
Environmental Quality.
(c) The Texas Commission on Environmental Quality has filed
its recommendations relating to this Act with the governor, the
lieutenant governor, and the speaker of the house of
representatives within the required time.
(d) All requirements of the constitution and laws of this
state and the rules and procedures of the legislature with respect
to the notice, introduction, and passage of this Act are fulfilled
and accomplished.
SECTION 5. This Act takes effect immediately if it receives
a vote of two-thirds of all the members elected to each house, as
provided by Section 39, Article III, Texas Constitution. If this
Act does not receive the vote necessary for immediate effect, this
Act takes effect September 1, 2025.