Texas Statutes (Last Updated: January 4, 2014) |
SPECIAL DISTRICT LOCAL LAWS CODE |
Title 4. DEVELOPMENT AND IMPROVEMENT |
Subtitle C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT |
Chapter 3850. GREATER SHARPSTOWN MANAGEMENT DISTRICT |
Subchapter E. DISSOLUTION |
Sec. 3850.201. DISSOLUTION OF DISTRICT WITH OUTSTANDING DEBT
Latest version.
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(a) The board may dissolve the district regardless of whether the district has debt. Section 375.264, Local Government Code, does not apply to the district.
(b) If the district has debt when it is dissolved, the district 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 2005, 79th Leg., Ch. 771 , Sec. 1, eff. June 17, 2005.