Sec. 3878.301. DISSOLUTION OF DISTRICT WITH OUTSTANDING DEBT. (a) The district may be dissolved as provided by Subchapter M, Chapter 375, Local Government Code, except that Section 375.264, Local Government Code, does not apply to the district. The board may dissolve the district regardless of whether the district has debt.
(b) If the district has debt when it is dissolved, the district shall remain in existence solely for the purpose of discharging its bonds or other obligations according to their terms. The dissolution is effective when all debts have been discharged.
Added by Acts 2009, 81st Leg., R.S., Ch. 1068 (H.B. 4722), Sec. 1, eff. June 19, 2009.
Section: Previous 3878.207 3878.208 3878.209 3878.210 3878.211 3878.212 3878.213 3878.214 3878.251 3878.252 3878.253 3878.254 3878.255 3878.256 3878.257Last modified: September 28, 2016