Texas Special District Local Laws Code § 4501.201 Dissolution Of Authority; Outstanding Debt

Sec. 4501.201. DISSOLUTION OF AUTHORITY; OUTSTANDING DEBT. (a) The board may dissolve the authority regardless of whether the authority has debt.

(b) If the authority has debt when it is dissolved, the authority shall remain in existence solely for the purpose of discharging its debts. The dissolution is effective when all debts have been discharged.

Added by Acts 2007, 80th Leg., R.S., Ch. 568 (S.B. 1659), Sec. 1, eff. June 16, 2007.

Section: Previous  4501.055  4501.056  4501.057  4501.101  4501.102  4501.103  4501.104  4501.105  4501.106  4501.107  4501.108  4501.109  4501.151  4501.152  4501.153

Last modified: September 28, 2016