|
House Bill 4752 |
House Author: Parker |
|
Effective: 9-1-09 |
Senate Sponsor: Estes |
House Bill 4752 amends the Special District Local Laws Code to create the Prosper Management District No. 1 in Denton County. The bill requires the district to make available a district water or wastewater facility to each holder of a water utility certificate of convenience and necessity for land in the district. It prohibits the district from providing retail water or wastewater services. The district may undertake specified types of improvement projects, but before it may issue bonds, impose taxes, or borrow money, the district must negotiate and execute with the Town of Prosper an interlocal project development agreement regarding the district's plans and rules for the development and operation of the district and the financing of improvement projects. Property taxes must be approved by district voters and the maximum rate of an operation and maintenance tax must be approved by both those voters and the governing body of the town. Issuance of bonds payable from property taxes to finance a road project requires approval by a two-thirds majority of district voters, and the total amount of bonds and obligations for such projects may not exceed, at the time of issuance, one-fourth of the assessed value of the real property in the district.