Sec. 3856.201. EXCEPTION FOR DISSOLUTION OF DISTRICT WITH OUTSTANDING DEBT. (a) The board may vote to dissolve a district that has debt. If the vote is in favor of dissolution, the district shall remain in existence solely for the limited purpose of discharging its debts. The dissolution is effective when all debts have been discharged.
(b) Section 375.264, Local Government Code, does not apply to the district.
Added by Acts 2007, 80th Leg., R.S., Ch. 1128 (H.B. 4053), Sec. 1, eff. June 15, 2007.
Section: Previous 3856.103 3856.104 3856.105 3856.106 3856.107 3856.108 3856.109 3856.151 3856.152 3856.153 3856.154 3856.155 3856.156 3856.157 3856.158Last modified: September 28, 2016