A conservatorship of a public junior college under this subchapter continues until the earlier of:
(1) the governor’s issuing of a proclamation declaring that the condition of gross fiscal mismanagement no longer exists and that the conservatorship is dissolved; or
(2) the Texas Higher Education Coordinating Board’s finding and certifying to the governor that the condition of gross fiscal mismanagement no longer exists, in which case the conservatorship is dissolved.