Sec. 3873.205. MUNICIPAL APPROVAL. (a) A district must obtain the approval of the governing body of the city before issuing bonds for a park improvement project and for the plans and specifications of a park improvement project financed by the bond issuance.
(b) Instead of approval of bonds by the city, the district before finally approving a capital improvements budget may obtain approval from the governing body of the city of a capital improvements budget for a period not to exceed five years. If a district obtains approval of a capital improvements budget, it may finance the capital improvements and issue bonds specified in the budget without further approval from the city.
(c) The district must obtain approval from the city of the plans and specifications of any park improvement project that involves the use of the rights-of-way of streets, roads, or highways or the use of city land or any easements granted by the city.
(d) The city is not obligated to pay any bonds, notes, or other obligations of the district.
Added by Acts 2009, 81st Leg., R.S., Ch. 1202 (H.B. 4789), Sec. 1, eff. June 19, 2009.Section: Previous 3873.155 3873.156 3873.157 3873.158 3873.159 3873.160 3873.161 3873.162 3873.163 3873.201 3873.202 3873.203 3873.204 3873.205 3873.206 Next
Last modified: September 28, 2016