TX HB5696

Creates The Reserve Municipal Management District as a special district in the City of Mansfield, Texas, encompassing approximately 173.667 acres, to promote employment, commerce, transportation, housing, tourism, recreation, and economic development

Establishes a five-member board of directors serving staggered four-year terms, with directors eligible for compensation up to $150 per meeting and $7,200 annually; initial directors include Clay Roby, Jimmy O'Neal, Dan White, Joe Smolinski, and Jason Moore

Grants the district authority to issue bonds, impose ad valorem taxes (with voter approval), and collect assessments to fund improvement projects including water, wastewater, drainage, roads, parking facilities, and recreational facilities

Allows the district to create nonprofit corporations, establish economic development programs, make loans and grants, and contract with governmental or private entities, but expressly prohibits the use of eminent domain power

Permits district dissolution by petition of property owners representing two-thirds of assessed value or surface area, or by majority board vote, provided no outstanding bonded debt, contractual payment obligations, or owned public facilities remain