Tex. Spec. Dist. Local Laws Code Section 3976.0706
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. 1253 (H.B. 4637), Sec. 1, eff. September 1, 2019.

Source: Section 3976.0706 — Requirements for Collection of Revenue to Pay Bonds, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3976.­htm#3976.­0706 (accessed Jun. 5, 2024).

3976.0101
Definitions 3976.0102
Creation and Nature of District 3976.0103
Purpose 3976.0104
Findings of Benefit and Public Purpose 3976.0105
District Territory 3976.0106
Applicability of Municipal Management Districts Law 3976.0107
Construction of Chapter 3976.0108
Conflicts of Law 3976.0109
Consent of Municipality Required 3976.0201
Governing Body 3976.0202
Appointment and Removal of Director Appointed by City 3976.0203
Appointment by Commission 3976.0204
Vacancy 3976.0207
Compensation 3976.0208
Initial Directors 3976.0301
General Powers and Duties 3976.0302
Improvement Projects and Services 3976.0303
Location of Improvement Project 3976.0306
Adding or Removing Territory 3976.0307
No Eminent Domain Power 3976.0401
Disbursements and Transfers of Money 3976.0402
Money Used for Improvements or Services 3976.0403
Method of Notice for Hearing 3976.0404
Assessments 3976.0405
Notice of Assessments 3976.0503
Tax Election Required 3976.0504
Operation and Maintenance Tax 3976.0505
Authority to Borrow Money and to Issue Bonds and Other Obligations 3976.0506
Bonds Secured by Revenue or Contract Payments 3976.0507
Bonds Secured by Ad Valorem Taxes 3976.0601
Dissolution by City Ordinance 3976.0602
Collection of Assessments and Other Revenue 3976.0603
Assumption of Assets and Liabilities 3976.0701
Applicability 3976.0702
Conflict of Laws 3976.0703
Written Agreement Regarding Special Appraisals 3976.0704
Requirements for Advertising Bond Issue 3976.0705
Requirements for Bond Issue 3976.0706
Requirements for Collection of Revenue to Pay Bonds
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Accessed:
Jun. 5, 2024

§ 3976.0706’s source at texas​.gov