TX HB5689

Amends bond issuance limits for Cole Ranch Improvement District No. 1 of Denton County to specify that bonds secured by ad valorem taxes may not exceed 10% of assessed value of all real property in the district

Creates new provision allowing bonds secured by contract payments to be issued up to 10% of the assessed value of all real property across all districts making payments under the contract

Validates and confirms all governmental acts and proceedings of the district taken before the effective date, except for matters already held invalid by final court judgment or currently in litigation that results in invalidation

Confirms the district retains all existing rights, powers, privileges, authority, duties, and functions it held prior to the Act

Takes effect immediately upon two-thirds vote of both legislative chambers, otherwise becomes effective September 1, 2025