Section 3868.251 - Dissolution By Town Ordinance(a) The town may dissolve the district by ordinance.(b) The town may not dissolve the district until:(1) the district's outstanding indebtedness or contractual obligations have been repaid or discharged; or(2) the town agrees to succeed to the rights and obligations of the district.(c) The town may not dissolve the district until:(1) each party to the development agreement fulfills the party's obligations under the agreement; and(2) the district fulfills the district's obligation to pay or reimburse a developer or owner for the costs of improvement projects and services undertaken by the district.Tex. Spec. Dist. Loc. Laws § 3868.251
Added by Acts 2011, 82nd Leg., R.S., Ch. 1190, Sec. 1, eff. 9/1/2011.