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Relating to creation, organization, administration, rights, powers, privileges, duties, functions, responsibilities, procedures, and financing of the Alvarado Water Authority; providing procedures of annexing territory and levying taxes; authorizing the City of Alvarado and public agencies and political subdivisions of the state to enter into contracts with the district; providing relationship of this Act to other laws; providing for the district's bearing the expense of relocation or alteration of certain properties; providing procedures for the issuance of bonds and refunding bonds; providing for their terms, security and use of proceeds; providing for taxing authority and for elections in connection with the levy of taxes and issuance of bonds; providing remedies for holders of bonds in case of default; providing the characteristics of the bonds issued and their eligibility for investment and security for deposit of public funds; providing for exemption from taxation; stating compliance with notice requirements of the Texas Constitution.