TX HB5694

Creates the Fannin County Improvement District No. 1 as a special district encompassing approximately 337.65 acres in Fannin County, Texas, governed by a five-member board of directors serving staggered four-year terms

Grants the district authority to provide water, wastewater, drainage, road, and recreational facilities, as well as promote employment, commerce, transportation, housing, tourism, recreation, and economic development within its boundaries

Authorizes the district to impose ad valorem taxes (with voter approval), collect assessments, and issue bonds payable from taxes, assessments, revenue, or contract payments to fund infrastructure improvements and services

Permits the district to contract for law enforcement services, establish economic development programs including loans and grants, and develop parking facilities, but explicitly prohibits the use of eminent domain power

Requires municipal consent before issuing bonds backed by ad valorem taxes, and allows dissolution by petition of property owners holding at least two-thirds of assessed property value or by majority board vote, provided all debts and obligations are satisfied