Public Improvement Districts

Public Improvement Districts ("PIDs" or "Districts"), per the Texas Local Government Code Chapter 372 ("PID Act"), provide the Village of Salado (the "Village") an economic development tool that permits the financing of qualified public improvement costs which confer a special benefit on a definable part of the Village. Proceeds from bonds issued by a PID can finance capital costs and fund supplemental services to meet the community needs which could not otherwise be constructed or provided. The bonds issued by the Village to fund the costs of eligible capital improvements and/or supplemental services are paid entirely by property owners within the PID who receive special benefits from the capital improvements or services. A PID may only be used to pay for public improvements.