Sec. 460.607. AGREEMENT WITH COMPTROLLER. Before pledging or otherwise committing money in the tax increment account under Section 460.606 , the governing body of a municipality must enter into an agreement under Subchapter E , Chapter 271 , Local Government Code, to authorize and direct the comptroller to: (1) withhold from any payment to which the municipality may be entitled the amount of the payment due to the tax increment account; (2) deposit that amount into the tax increment account; and (3) continue withholding and making additional payments into the tax increment account until an amount sufficient to satisfy the amount due to the account has been met.
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