AUTHOR'S / SPONSOR'S STATEMENT OF INTENT
C.S.H.B. 4154 amends current law relating to the creation of the Grand Lake Estates Management District, provides authority to issue bonds, and provides authority to impose assessments, fees, or taxes.
RULEMAKING AUTHORITY
SECTION BY SECTION ANALYSIS
SECTION 1. Amends Subtitle C, Title 4, Special District Local Laws Code, by adding Chapter 3938, as follows:
CHAPTER 3938. GRAND LAKE ESTATES MANAGEMENT DISTRICT
Sets forth standard language for the creation of the Grand Lake Estates Management District (district) in Montgomery County. Sets forth standards, procedures, requirements, and criteria for:
Creation and purpose of the district (Sections 3938.001-3938.007);
Size, composition, compensation, and appointment of directors and initial directors (Sections 3938.051-3938.062);
Powers and duties of the district, including development of nonprofit corporation (Sections 3938.101-3938.113);
General financial provisions and authority to impose a tax and issue bonds and other obligations for the district (Sections 3938.151-3938.159 and 3938.201-3938.206);
Dissolution of district (Sections 3938.251-3932.253).
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: upon passage or September 1, 2015.