Sec. 3502.152. POWER TO DISSOLVE. (a) The board may dissolve the authority if:
(1) each municipality in the authority approves the dissolution; and
(2) all debts or obligations have been satisfied or retired.
(b) Any assets of the authority remaining after all debts or obligations have been satisfied shall be conveyed or transferred to the municipalities in the authority as approved by the board.
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Section: Previous 3502.001 3502.002 3502.003 3502.004 3502.051 3502.052 3502.053 3502.054 3502.055 3502.101 3502.102 3502.103 3502.104 3502.105 3502.151Last modified: September 28, 2016