Sec. 3871.251. DISSOLUTION BY CITY ORDINANCE. (a) The city by ordinance may dissolve the district.
(b) The city may not dissolve the district until the district's outstanding indebtedness or contractual obligations that are payable from ad valorem taxes have been repaid or discharged, or the city has affirmatively assumed the obligation to pay the outstanding indebtedness from the city's lawfully available revenue.
(c) The city may not dissolve the district until the agreement under Section 3871.160 has been executed and the district's performance under the agreement has been fulfilled, including any right or obligation the district has to reimburse a developer or owner for the costs of improvement projects.
Added by Acts 2009, 81st Leg., R.S., Ch. 1067 (H.B. 4720), Sec. 1, eff. June 19, 2009.
Section: Previous 3871.109 3871.110 3871.151 3871.152 3871.153 3871.154 3871.155 3871.156 3871.157 3871.158 3871.159 3871.160 3871.251 3871.252 3871.253 NextLast modified: September 28, 2016