(a) The governing body of a local government may determine that it is convenient and advantageous to designate an area of the local government as a region within which the authorized representative of the local government and record owners of real property may enter into written contracts to impose assessments to repay the financing by owners of qualified projects on the owners' property and, if authorized by the local government program, finance the qualified project.
(b) An area designated as a region by the governing body of a local government under this section:
(1) may include the entire local government; and
(2) must be located wholly within the local government's jurisdiction.
(c) For purposes of determining a municipality's jurisdiction under Subsection (b)(2), the municipality's extraterritorial jurisdiction may be included.
(d) A local government may designate more than one region. If multiple regions are designated, the regions may be separate, overlapping, or coterminous.