Texas Water District Disclosure Sample Clauses

Texas Water District Disclosure. THE SOVEREIGN PROPERTY IS LOCATED IN A DISTRICT CREATED BY THE STATE OF TEXAS PROVIDING OR PROPOSING TO PROVIDE, AS THE DISTRICT’S PRINCIPAL FUNCTION, WATER, SEWER, DRAINAGE, AND FLOOD CONTROL OR PROTECTION FACILITIES OR SERVICES. SUCH DISTRICT HAS TAXING AUTHORITY SEPARATE FROM ANY OTHER TAXING AUTHORITY, AND MAY ISSUE BONDS AND/OR LEVY ADDITIONAL TAXES TO PROVIDE UTILITY FACILITIES AND/OR SERVICES WITHIN THE DISTRICT. SUCH DISTRICT ALSO HAS AUTHORITY TO ADOPT AND IMPOSE STANDBY FEES ON PROPERTY IN THE DISTRICT. A DISTRICT MAY EXERCISE AUTHORITY WITHOUT HOLDING AN ELECTION ON THE MATTER. Purchaser acknowledges that Chapter 49 of the Texas Water Code requires such Seller to deliver and Purchaser to sign and deliver the Notice Regarding Texas Water Code at Closing. Purchaser hereby (a) acknowledges receipt of the notice contained in this Section and this Agreement, (b) waives any other rights Purchaser may have under this Agreement or Applicable Law with respect to notice that the Sovereign Property is situated in a utility or other statutorily created district providing water, sewer, drainage or flood control facilities and services, and (c) agrees to execute and deliver Purchaser’s counterpart to the Notice Regarding Texas Water Code at Closing. 84
Sample 1
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Related to Texas Water District Disclosure

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