Sec. 3850.201. DISSOLUTION OF DISTRICT WITH OUTSTANDING DEBT. (a) The board may dissolve the district regardless of whether the district has debt. Section 375.264, Local Government Code, does not apply to the district.
(b) If the district has debt when it is dissolved, the district shall remain in existence solely for the purpose of discharging its debts. The dissolution is effective when all debts have been discharged.
Added by Acts 2005, 79th Leg., Ch. 771 (H.B. 3526), Sec. 1, eff. June 17, 2005.
Section: Previous 3850.151 3850.152 3850.153 3850.154 3850.155 3850.156 3850.157 3850.158 3850.159 3850.160 3850.161 3850.162 3850.163 3850.164 3850.165Last modified: September 28, 2016