Bill > SB992

This bill provides the Wood Trace Municipal Utility District No. 3 of Montgomery County, Texas with the authority to design, acquire, construct, finance, issue bonds for, improve, operate, maintain, and convey macadamized, graveled, or paved roads, including storm drainage, to the state, a county, or a municipality. The bill outlines the road standards and requirements the district must follow, and it limits the total principal amount of bonds or other obligations issued or incurred to finance road projects and payable from ad valorem taxes to one-fourth of the assessed value of the real property in the district.