Relating to the powers and duties and validating certain acts and proceedings of the Cole Ranch Improvement District No. 1 of Denton County, Texas.

Contracts

• Master Development Agreements (MDAs): Legal counsel must review existing MDAs. Reimbursement obligations contingent on bond proceeds are now legally subordinate to the 10% assessed value cap. If current values do not support the debt, reimbursement timelines must be extended.
• Inter-local Agreements: Contracts involving revenue bonds supported by multiple districts must be audited. The 10% cap applies to the *aggregate* assessed value of all districts obligated to make payments.

Hiring/Training

• Finance Team Briefing: Financial analysts and bond counsel must update feasibility models to include the "10% Test" for both Ad Valorem and Contract Revenue bonds.
• No New Certifications: No new personnel certifications are required.

Reporting & Record-Keeping

• Deal Binders: Bond transcripts submitted to the Attorney General must now include a specific certification or schedule demonstrating that the principal amount does not exceed 10% of the *certified* assessed value.
• Aggregate Debt Schedules: For contract revenue bonds, maintain a consolidated debt schedule for all participating districts to prove aggregate compliance.

Fees & Costs

• No New Statutory Fees: The bill does not impose new filing fees.
• Financing Liquidity: Developers may face delayed liquidity if assessed values are insufficient to support the desired bond issuance under the new cap.