TX SB3056

Creates the Alluvium Ranch Municipal Management District No. 1 as a special district in Grayson County within the City of Sherman, encompassing approximately 606 acres (269.03 acres plus 337.35 acres in two parcels) near F.M. 697

Establishes a five-member elected board of directors serving staggered four-year terms, with directors eligible to receive up to $150 per meeting and $7,200 maximum annual compensation; names Tim McNutt, Buck Nguyen, Felix Wong, Darrell Rogers, and Damian Perez as initial directors

Authorizes the district to impose assessments, fees, and operation/maintenance taxes (with voter approval), and to issue bonds payable from assessments, revenue, or contract payments—but prohibits bonds backed by ad valorem taxes

Grants the district powers to provide water, wastewater, drainage, road, recreational, and parking facilities; contract for law enforcement services; create economic development programs; and make loans and grants of public money

Provides limited eminent domain authority (contingent on two-thirds legislative vote); allows district division only when no outstanding bonded debt exists; and permits dissolution by board majority vote or petition from owners of two-thirds of assessed property value