Relating to the powers and duties of the Far North Fort Worth Municipal Utility District No. 1 of Tarrant and Wise Counties; providing authority to impose a tax and issue bonds.

Contracts

• Purchase and Sale Agreements (PSAs): You must amend the statutory "Notice to Purchaser" (Texas Water Code § 49.452) for transactions in this District. Standard templates citing the general District tax rate are legally insufficient if the property sits within a "defined area." You must disclose the *specific* defined area tax rate and bonding authority.
• Reimbursement Agreements: Developers petitioning for defined areas must restructure agreements to ensure reimbursement is tied specifically to bond proceeds from that defined area, not general District funds.

Hiring/Training

• Land Acquisition Teams: Train staff to identify "Far North Fort Worth MUD No. 1" immediately during site selection. They must query whether the target tract is part of a "defined area" or if the seller has a petition pending.
• Closing Officers: Title review protocols must be updated to flag tax certificates that show differential rates within the same MUD.

Reporting & Record-Keeping

• Board Minutes Monitoring: You must track District Board meeting minutes for public hearings regarding the creation of defined areas. This is your only early warning system for potential tax hikes on your inventory.
• Tax Certificates: Ensure tax certificates explicitly state the rate for the *specific parcel*, not just the general jurisdiction.

Fees & Costs

• Variable Tax Liability: There is no fixed fee increase. The cost impact is the potential for a significantly higher ad valorem tax rate on specific parcels to fund localized infrastructure (roads, drainage) that benefits that specific area.