Section 3805.201 - Dissolution of District With Outstanding Debt(a) The district may be dissolved as provided by Subchapter M, Chapter 375, Local Government Code.(b) Regardless of Section 375.264, Local Government Code, if the district has debt, the district may be dissolved as provided by Subchapter M, Chapter 375, Local Government Code. 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.Tex. Spec. Dist. Loc. Laws § 3805.201
Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. 4/1/2005.