(a) Except as provided in Subsection (c), before the district may exercise any powers under this chapter:(1) the city must adopt an ordinance or resolution consenting to the creation of the district and to the inclusion of land in the district;(2) the city and the district must negotiate and execute a mutually approved and accepted operating agreement; and (3) the city and each developer of property in the district must negotiate and execute a project agreement.(b) This chapter expires December 31, 2020, if:(1) the city and the district have not executed the operating agreement required by Subsection (a)(2); or(2) the city and each developer of property in the district have not executed a project agreement as required by Subsection (a)(3).(c) The board has the powers necessary, convenient, or desirable to negotiate and execute a mutually approved and accepted operating agreement. Added by Acts 2019, 86th Leg., R.S., Ch. 556 (H.B. 4683), Sec. 1, eff. June 10, 2019.