Sec. 3886.251. DISSOLUTION BY TOWN ORDINANCE. (a) The town by ordinance may dissolve the district.
(b) The town 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.
(c) The town may not dissolve the district until the agreement under Section 3886.104 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.
(d) The town may not dissolve the district before December 31, 2016.
Added by Acts 2009, 81st Leg., R.S., Ch. 1077 (H.B. 4752), Sec. 1, eff. September 1, 2009.Section: Previous 3886.108 3886.109 3886.110 3886.111 3886.151 3886.152 3886.153 3886.154 3886.201 3886.202 3886.203 3886.204 3886.205 3886.251 3886.252 Next
Last modified: September 28, 2016