House Bill 1254
Introduced House Bill (H)
DIGEST
Flood control improvement district projects. Provides that, in the period beginning March 1, 2020, and ending March 1, 2022: (1) money in the fund of a flood control improvement district (district) established after December 31, 2019, may be used for a flood control works project in a location outside the boundaries of the district; (2) money received by the district from bonds issued for purposes of flood control works within the district may be applied to the payment or reimbursement of the cost of a flood control works project in a location outside the boundaries of the district; and (3)
Flood control improvement district projects. Provides that, in the period beginning March 1, 2020, and ending March 1, 2022: (1) money in the fund of a flood control improvement district (district) established after December 31, 2019, may be used for a flood control works project in a location outside the boundaries of the district; (2) money received by the district from bonds issued for purposes of flood control works within the district may be applied to the payment or reimbursement of the cost of a flood control works project in a location outside the boundaries of the district; and (3)
money received from bonds for which revenue of the consolidated city's storm water fund was pledged or assigned may be applied to the payment of the costs of a flood control works project of the district, and money in the flood control improvement fund of the district may be applied to reimburse debt service payments on the bonds, even though the flood control works project was in a location outside the boundaries of the district; if the flood control works project outside the boundaries of the district directly benefits special flood hazard property within the district.
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