The bill establishes the Montgomery County Management District No. 3 as a special district under Texas law, aimed at promoting economic development and enhancing public welfare through essential services such as water, wastewater, drainage, and recreational facilities. It includes provisions for the district to issue bonds and impose assessments, fees, and taxes to fund its operations. The governance structure is defined, with a board of directors appointed by the Texas Commission on Environmental Quality, and it is emphasized that the district will supplement, rather than replace, existing services provided by Montgomery County and the cities of Conroe and Willis. Notably, the district is prohibited from exercising the power of eminent domain, ensuring the protection of private property rights.

Additionally, the bill introduces new provisions for financing services and improvements through assessments, requiring a written petition from property owners representing a majority of the assessed value in the district before any financing can occur. It outlines the conditions for imposing, collecting, and enforcing assessments, which will have a first and prior lien against the property assessed. The bill also details the procedures for holding elections to impose ad valorem taxes, borrowing money, and issuing bonds, while allowing for the potential division of the district into multiple districts under specific conditions. Furthermore, it mandates that any new district formed will inherit the powers of the original district and requires voter approval for tax or bond elections, ensuring accountability and proper governance throughout the district's operations.

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