Texas Special District Local Laws Code 3886.251 – Dissolution by Town Ordinance
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(a) The town by ordinance may dissolve the district.
(b) The town may not dissolve the district until the district’s outstanding indebtedness or contractual obligations that are payable from ad valorem taxes have been repaid or discharged.
Terms Used In Texas Special District Local Laws Code 3886.251
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
(c) The town may not dissolve the district until the agreement under § 3886.104 has been executed and the district’s performance under the agreement has been fulfilled, including any right or obligation the district has to reimburse a developer or owner for the costs of improvement projects.
(d) The town may not dissolve the district before December 31, 2016.