Sec. 8399.152. DUTIES OF MUNICIPALITY AFTER ANNEXATION. If a municipality in whose extraterritorial jurisdiction the district is located annexes the district for full or limited purposes and the annexation precludes or impairs the ability of the district to issue bonds, the municipality shall:
(1) simultaneously with the annexation, pay in cash to the landowner or developer of the district a sum equal to all actual costs and expenses incurred by the landowner or developer in connection with the district that:
(A) the district has agreed in writing to pay; and
(B) would otherwise have been eligible for reimbursement from bond proceeds under the rules and requirements of the commission as those rules and requirements exist on the date of annexation; and
(2) after the annexation, install all necessary water, wastewater, and drainage facilities to serve full buildout of development within the district.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.03, eff. April 1, 2015.
Section: Previous 8399.001 8399.002 8399.003 8399.004 8399.005 8399.051 8399.101 8399.151Last modified: September 28, 2016