Consider and approve  an order authorizing issuance, sale and delivery of $72,000,000 of Hidalgo County Drainage District No.1 Unlimited Tax Improvement Bonds, Series 2008; payable from the levy of a direct and continuing annual ad valorem tax pursuant to the provisions of Chapter 56, Taxes Water Code; prescribing the terms and form thereof; providing for the payment of the principal thereof and interest thereof; authorizing the use of an official statement to be used in connection with the sales of the bonds; and making other provisions regarding such bonds and matters incident thereto.