TX HB5677

Creates Pura Vida Municipal Management District No. 1 as a special district in Travis County within the City of Mustang Ridge, encompassing approximately 211.348 acres across eight land tracts owned by Mustang Ridge, LLC

Establishes a five-member elected board of directors serving staggered four-year terms, with compensation up to $150 per meeting and $7,200 annual maximum; temporary directors appointed initially by the Texas Commission on Environmental Quality upon petition

Grants authority to issue bonds, impose ad valorem taxes, levy assessments, and adopt a sales and use tax up to 2% following voter approval at election; bonds secured by revenue or contract payments may be issued without election

Authorizes the district to provide water, wastewater, drainage, road, and recreational facilities; develop parking facilities; contract for law enforcement services; and engage in economic development programs including loans and grants

Grants limited eminent domain power (contingent on two-thirds legislative vote) subject to Water Code restrictions; district may be dissolved by petition of owners of two-thirds of assessed property value or by board majority vote if no outstanding debt exists