(a) After the district incurs an obligation described by Section 3902.253 and until all obligations of the district are paid in full or otherwise satisfied, the district shall submit a quarterly financial report to the city.(b) The report must be based on sound accounting methods and detail:(1) the obligation incurred;(2) the amount of the obligation that has been repaid; and(3) any other information the city requires. Added by Acts 2011, 82nd Leg., R.S., Ch. 1195 (H.B. 3859), Sec. 1, eff. September 1, 2011.
Texas Legal Code