Texas Special District Local Laws Code Title 4, Chapter 3886 - Prosper Management District No. 1
SUBCHAPTER A GENERAL PROVISIONS
- Texas Section 3886.001 - Definitions
In this chapter: (1) "Board" means the district's board of directors. (2) "Director" means a board member. (3) "District" means the Prosper Management District No....
- Texas Section 3886.002 - Nature Of District
The district is a special district created under Sections 52 and 52-a, Article III, and Section 59, Article XVI, Texas Constitution. Added by Acts 2009,...
- Texas Section 3886.003 - Findings Of Public Purpose And Benefit
(a) The district is created to serve a public purpose and benefit. (b) All land and other property included in the district will benefit from...
- Texas Section 3886.004 - Initial District Territory
(a) The district is initially composed of the territory described by Section 2 of the Act creating this chapter. (b) The boundaries and field notes...
SUBCHAPTER B BOARD OF DIRECTORS
- Texas Section 3886.005 - Eligibility For Inclusion In Special Zones
(a) All or any part of the area of the district is eligible to be included in: (1) a tax increment reinvestment zone created by...
- Texas Section 3886.051 - Governing Body; Terms
(a) The district is governed by a board of five directors. (b) Directors serve staggered four-year terms, with the terms of two or three directors...
- Texas Section 3886.052 - Eligibility
Except for a director appointed as provided by Section 3886.051(c) or 3886.056(a), to be eligible to serve as a director a person must own land...
- Texas Section 3886.053 - Vacancy
(a) The remaining directors shall fill a vacancy on the board by appointing a person who is eligible under Section 3886.052. (b) If there are...
- Texas Section 3886.054 - Director's Oath And Affirmation
A director's oath and affirmation of office shall be filed with the district, and the district shall retain the oath and affirmation in the district...
SUBCHAPTER C POWERS AND DUTIES
- Texas Section 3886.055 - Officers
The board shall elect from among the directors a chair, a vice chair, and a secretary. Added by Acts 2009, 81st Leg., R.S., Ch. 1077...
- Texas Section 3886.101 - General Powers And Duties
The district has the powers and duties necessary to accomplish the purposes for which the district is created. Added by Acts 2009, 81st Leg., R.S.,...
- Texas Section 3886.102 - Municipal Management District Powers And Duties
(a) The district has the powers and duties provided by the general laws of this state, including Chapter 375, Local Government Code, as applicable to...
- Texas Section 3886.103 - Improvement Projects
(a) Subject to Sections 3886.102(b) and (c), the district may provide, or it may enter into contracts with a governmental or private entity to provide,...
- Texas Section 3886.104 - Project Development Agreement Required
Before the district may issue bonds, impose taxes, or borrow money, the district and the town must negotiate and execute a mutually approved and accepted...
- Texas Section 3886.105 - General Powers Regarding Contracts
(a) The district may: (1) contract with any person to accomplish any district purpose, including a contract for: (A) the payment, repayment, or reimbursement of...
- Texas Section 3886.106 - Rules; Enforcement
(a) The district may adopt rules: (1) to administer or operate the district; (2) for the use, enjoyment, availability, protection, security, and maintenance of the...
- Texas Section 3886.107 - Name Change
The board by resolution may change the district's name. The board shall give written notice of the change to the town. Added by Acts 2009,...
- Texas Section 3886.108 - Adding Or Removing Territory
The board may add or remove territory under Subchapter J, Chapter 49, Water Code, and Section 54.016, Water Code, except that: (1) the addition or...
- Texas Section 3886.109 - Economic Development
The district may create economic development programs and exercise the economic development powers that Chapter 1509, Government Code, provides for a municipality. Added by Acts...
- Texas Section 3886.110 - No Eminent Domain Power
The district may not exercise the power of eminent domain. Added by Acts 2009, 81st Leg., R.S., Ch. 1077 (H.B. 4752), Sec. 1, eff. September...
SUBCHAPTER D GENERAL FINANCIAL PROVISIONS
- Texas Section 3886.111 - Terms Of Employment; Compensation
The board may employ and establish the terms of employment and compensation of an executive director or general manager and any other district employees the...
- Texas Section 3886.151 - Elections Regarding Taxes Or Bonds
(a) The district may issue, without an election, bonds and other obligations secured by revenue or contract payments from any source other than ad valorem...
- Texas Section 3886.152 - Borrowing Money
The district may borrow money for a district purpose by issuing or executing bonds, notes, credit agreements, or other obligations of any kind found by...
- Texas Section 3886.153 - Operation And Maintenance Tax
(a) If authorized at an election held under Section 3886.151, the district may impose an operation and maintenance tax on taxable property in the district...
SUBCHAPTER E BONDS AND OTHER OBLIGATIONS
- Texas Section 3886.154 - Contract Taxes
(a) In accordance with Section 49.108, Water Code, the district may make payments under a contract from taxes other than operation and maintenance taxes after...
- Texas Section 3886.201 - Authority To Issue Bonds And Other Obligations
The district may issue bonds or other obligations payable wholly or partly from ad valorem taxes, impact fees, revenue, contract payments, grants, sales and use...
- Texas Section 3886.202 - Taxes For Bonds
(a) At the time the district issues bonds payable wholly or partly from ad valorem taxes, the board shall provide for the annual imposition of...
- Texas Section 3886.203 - Bond Issuance Plan Required Before Issuing Bonds
The district may not issue bonds until the governing body of the town approves a bond issuance plan authorizing and prescribing the limitations on the...
- Texas Section 3886.204 - Bond Maturity
Bonds must mature not more than 40 years from their date of issuance. Added by Acts 2009, 81st Leg., R.S., Ch. 1077 (H.B. 4752), Sec....
SUBCHAPTER F DISSOLUTION
- Texas Section 3886.205 - Bonds For Road Projects
At the time of issuance, the total principal amount of bonds or other obligations issued or incurred to finance road projects may not exceed one-fourth...
- Texas Section 3886.251 - Dissolution By Town Ordinance
(a) The town by ordinance may dissolve the district. (b) The town may not dissolve the district until the district's outstanding indebtedness or contractual obligations...
- Texas Section 3886.252 - Collection Of Assessments And Other Revenue
(a) If the dissolved district has bonds or other obligations outstanding secured by and payable from assessments or other revenue, other than ad valorem taxes,...
- Texas Section 3886.253 - Assumption Of Assets And Liabilities
(a) After the town dissolves the district, the town assumes the obligations of the district, including any bonds or other indebtedness payable from assessments or...
Last modified: September 28, 2016