Section 311.017 - Termination of Reinvestment Zone(a) A reinvestment zone terminates on the earlier of: (1) the termination date designated in the ordinance or order, as applicable, designating the zone or an earlier or later termination date designated by an ordinance or order adopted under Section 311.007(c); or(2) the date on which all project costs, tax increment bonds and interest on those bonds, and other obligations have been paid in full. (a-1) This subsection applies only to a reinvestment zone created by a municipality that has a population of more than 256,000 but less than 280,000 and is the county seat of a county that has a population of 325,000 or less. Notwithstanding Subsection (a)(1), a municipality by ordinance adopted subsequent to the ordinance adopted by the municipality creating a reinvestment zone may designate a termination date for the zone that is later than the termination date designated in the ordinance creating the zone but not later than the 20th anniversary of that date. If a municipality adopts an ordinance extending the termination date for a reinvestment zone as authorized by this subsection, the zone terminates on the earlier of: (1) the termination date designated in the ordinance; or (2) the date provided by Subsection (a)(2). (b) The tax increment pledged to the payment of bonds and interest on the bonds and to the payment of any other obligations may be discharged and the reinvestment zone may be terminated if the municipality or county that created the zone deposits or causes to be deposited with a trustee or other escrow agent authorized by law funds in an amount that, together with the interest on the investment of the funds in direct obligations of the United States, will be sufficient to pay the principal of, premium, if any, and interest on all bonds issued on behalf of the reinvestment zone at maturity or at the date fixed for redemption of the bonds, and to pay any other amounts that may become due, including compensation due or to become due to the trustee or escrow agent, as well as to pay the principal of and interest on any other obligations incurred on behalf of the zone.Amended by Acts 2023, Texas Acts of the 88th Leg.- Regular Session, ch. 644,Sec. 224, eff. 9/1/2023. Acts 2011, 82nd Leg., R.S., Ch. 1163 (H.B. 2702), Sec. 118, eff. September 1, 2011 Acts 2011, 82nd Leg., R.S., Ch. 1032 (H.B. 2853), Sec. 17, eff. June 17, 2011 Acts 2009, 81st Leg., R.S., Ch. 910 (H.B. 1770), Sec. 5, eff. June 19, 2009 Acts 2009, 81st Leg., R.S., Ch. 137 (S.B. 1105), Sec. 1, eff. May 23, 2009 Acts 2007, 80th Leg., R.S., Ch. 189 (S.B. 1264), Sec. 3, eff. May 23, 2007Amended by: Acts 2005, 79th Leg., Ch. 1094 (H.B. 2120), Sec. 46, eff. September 1, 2005Added by Acts 1987, 70th Leg., ch. 191, Sec. 1, eff. Sept. 1, 1987.