Sec. 3851.201. DISSOLUTION. (a) The city by ordinance adopted by a two-thirds majority vote of its governing body may dissolve the district.
(b) The city may not dissolve the district until the district's outstanding indebtedness or contractual obligations payable from ad valorem taxes have been repaid or discharged.
(c) After the city dissolves the district, the city assumes the obligations of the district, including any bonds or other indebtedness payable from assessments or other district revenue.
(d) If the city dissolves the district, the board shall transfer ownership of all district property to the city.
Added by Acts 2007, 80th Leg., R.S., Ch. 794 (H.B. 4085), Sec. 1, eff. June 15, 2007.
Section: Previous 3851.053 3851.054 3851.055 3851.101 3851.102 3851.103 3851.104 3851.105 3851.106 3851.151 3851.152 3851.153 3851.154 3851.155 3851.156Last modified: September 28, 2016