Tex. Spec. Dist. Local Laws Code Section 3972.0706
Requirements for Collection of Revenue to Pay Bonds

The district may not collect an assessment to be used for the payment of bonds until:

(1)

the completion of at least 95 percent of the underground water, wastewater, and drainage facilities financed from bond proceeds that are necessary to serve the projected build-out, as certified by the district’s engineer;

(2)

the district or other appropriate party has secured the groundwater, surface water, and water discharge permits that are necessary to secure capacity to support the projected build-out;

(3)

the completion of at least 95 percent of lift station, water plant, and sewage treatment plant capacity sufficient to serve the connections constructed in the project for a period of not less than 18 months, as certified by the district’s engineer; and

(4)

the completion of at least 95 percent of the streets and roads that are necessary to provide access to the areas served by utilities and financed by the proceeds of bonds issued by the district, as certified by the district’s engineer and constructed in accordance with municipal or county standards.
Added by Acts 2019, 86th Leg., R.S., Ch. 1010 (H.B. 4730), Sec. 1, eff. January 1, 2020.

Source: Section 3972.0706 — Requirements for Collection of Revenue to Pay Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3972.­htm#3972.­0706 (accessed Jun. 5, 2024).

3972.0101
Definitions 3972.0102
Creation and Nature of District 3972.0103
Purpose 3972.0104
Findings of Benefit and Public Use 3972.0105
Initial District Territory 3972.0106
Eligibility for Inclusion in Special Zones 3972.0107
Applicability of Municipal Management District Law 3972.0108
Enforceability of Municipal Consent Agreement 3972.0109
Consent of Municipality and Entitlement Agreement Required 3972.0110
Construction of Chapter 3972.0201
Governing Body 3972.0202
Qualifications of Directors 3972.0203
Appointment of Directors 3972.0204
Vacancy 3972.0205
Officers 3972.0206
Compensation 3972.0207
Liability Insurance 3972.0208
No Executive Committee 3972.0209
Board Meetings 3972.0210
Initial Directors 3972.0301
General Powers and Duties 3972.0302
Improvement Projects and Services 3972.0303
Improvement Project and Service in Definable Area 3972.0304
Economic Development Programs 3972.0305
Parking Facilities 3972.0306
Adding or Removing Territory 3972.0307
No Eminent Domain Power 3972.0401
Division of District 3972.0402
Law Applicable to New District 3972.0403
Division Procedures 3972.0404
Contract Authority of New Districts 3972.0501
Disbursements and Transfers of Money 3972.0502
Tax and Assessment Abatements 3972.0601
Bonds and Other Obligations 3972.0602
Operation and Maintenance Tax 3972.0603
Taxes for Bonds and Other Obligations 3972.0701
Applicability 3972.0702
Conflict of Laws 3972.0703
Written Agreement Regarding Special Appraisals 3972.0704
Requirements for Advertising Bond Issue 3972.0705
Requirements for Bond Issue 3972.0706
Requirements for Collection of Revenue to Pay Bonds 3972.0901
Dissolution by City
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 3972.0706’s source at texas​.gov