Sec. 3892.301. 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. 1101 (H.B. 4828), Sec. 1, eff. June 19, 2009.
Section: Previous 3892.207 3892.208 3892.209 3892.210 3892.211 3892.212 3892.213 3892.214 3892.251 3892.252 3892.253 3892.254 3892.255 3892.256 3892.257Last modified: September 28, 2016