H.B. No. 5694 proposes the creation of the Fannin County Improvement District No. 1, aimed at enhancing local economic development and public welfare through various improvements and services. The bill grants the district the authority to issue bonds and impose assessments, fees, and taxes to fund its initiatives. Governance will be managed by a board of five directors serving staggered four-year terms, with provisions for temporary directors until permanent ones are elected. The district is designed to complement existing county services and will have the power to design, construct, and maintain improvement projects, provide law enforcement services, and engage in economic development programs, all while ensuring that it does not act as an agent for private interests.

The bill also specifies the district's boundaries, encompassing a 337.65-acre tract of land in Fannin County, Texas, and outlines its authority to develop and operate necessary parking facilities as part of street improvements. It establishes procedures for financing services through property owner assessments, requiring a written petition from owners representing a majority of assessed value before financing can occur. The legislation includes provisions for the dissolution of the district, contingent upon property owner petitions or board votes, while ensuring that the district cannot be dissolved if it has outstanding debts. The bill is set to take effect immediately upon a two-thirds legislative vote or on September 1, 2025, if that threshold is not met.

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