Consider and approve an order authorizing issuance, sale and delivery of $28,000,000 of Hidalgo County Drainage District No. 1 Unlimited Tax Improvement Bonds, Series 2007; payable from the levy of a direct and continuing unlimited annual ad valorem tax pursuant to the provisions of Chapter 56, Texas Water Code; prescribing the terms and form thereof; providing for the payment of the principal thereof and interest thereon; authorizing the use of an official statement to be used in connection with the sale of the bonds; and making other provisions regarding such bonds and matters incident thereto.