BILL ANALYSIS
Senate Research Center H.B. 4752
81R26779 SJM-F By: Parker (Estes)
AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
Prosper Management District No. 1 (district) will encompass an area of land within the corporate limits of the Town of Prosper, Denton County, Texas. The land to be located within the district will be developed into commercial development; therefore, the district is needed to promote commercial growth. Specifically, the district will be used to provide needed funding to preserve, maintain, and enhance the community, including traffic improvements, pedestrian facilities, and landscaping. It is necessary to create the district in order to purchase, acquire, construct or maintain facilities to promote such commercial growth. It is also necessary to empower the district with authority to impose taxes and issue bonds. H.B. 4752 sets forth provisions relating to the creation, administration, powers, duties, operation, and financing of the district.
H.B. 4752 creates the Prosper Management District No. 1 and provides authority to impose a tax and issue bonds. This bill prohibits the district from exercising the power of eminent domain.
RULEMAKING AUTHORITY
This bill does not expressly grant any additional rulemaking authority to a state officer, institution, or agency.
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subtitle C, Title 4, Special District Local Laws Code, by adding Chapter 3886, as follows:
CHAPTER 3886. PROSPER MANAGEMENT DISTRICT NO. 1
Sets forth standard language for the creation of the Prosper Management District No.1 (district) in the Town of Prosper (town). Sets forth standards, procedures, requirements, and criteria for:
Creation, purpose, and initial territory of the district (Sections 3886.001-3886.050);
Size, eligibility, composition, and terms of the board of directors of the district (Sections 3886.051-3886.100);
Powers and duties of the district (Sections 3886.101-3886.150);
General financial provisions and authority to impose a tax and to hold an election to impose taxes for the district (Sections 3886.151-3886.200);
Authority to issue bonds and other obligations (Sec. 3886.201-3886.250); and
Dissolution of the district by the town (Sections 3886.251-3886.253).
Prohibits the district from exercising the power of eminent domain.
SECTION 2. Sets forth the initial boundaries of the district.
SECTION 3. Provides that all requirements of the constitution and the 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 4. Effective date: September 1, 2009.