Sec. 336.351. PROCEDURE FOR DISSOLUTION. (a) The board by resolution may dissolve a district if the governing body of the lead governmental entity by resolution consents to the dissolution.
(b) If the district has debt, including any outstanding bonds, the district shall remain in existence for the sole purpose of paying its debt and transferring any remaining assets. The board shall transfer to the lead governmental entity any assets that remain after satisfaction of all debt.
(c) After the debt is paid and the assets are transferred, the district is dissolved.
Added by Acts 2005, 79th Leg., Ch. 883 (S.B. 1205), Sec. 2, eff. June 17, 2005.
Amended by:
Acts 2007, 80th Leg., R.S., Ch. 1148 (S.B. 940), Sec. 10, eff. June 15, 2007.
Section: Previous 336.208 336.251 336.252 336.253 336.254 336.255 336.301 336.302 336.303 336.304 336.305 336.306 336.307 336.308 336.309Last modified: September 28, 2016