Texas Special District Local Laws Code § 3502.152 Power To Dissolve

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  3502.151

Last modified: September 28, 2016