Sec. 3893.301. 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. 1100 (H.B. 4827), Sec. 1, eff. June 19, 2009.
Section: Previous 3893.207 3893.208 3893.209 3893.210 3893.211 3893.212 3893.213 3893.214 3893.251 3893.252 3893.253 3893.254 3893.255 3893.256 3893.257Last modified: September 28, 2016