Texas Special District Local Laws Code 1023.301 – Dissolution; Election
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(a) The district may be dissolved and the district’s assets and liabilities sold or transferred to another person only on approval of a majority of the district voters voting at an election held for that purpose.
(b) A majority of the directors may order an election to dissolve the district and transfer its assets and liabilities.
Terms Used In Texas Special District Local Laws Code 1023.301
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
- Person: includes corporation, organization, government or governmental subdivision or agency, business trust, estate, trust, partnership, association, and any other legal entity. See Texas Government Code 311.005
- Signed: includes any symbol executed or adopted by a person with present intention to authenticate a writing. See Texas Government Code 311.005
(c) The board shall order an election if the board receives a petition requesting an election that is signed by at least 15 percent of the registered voters in the district, according to the most recent official list of registered voters.
(c-1) The election shall be called not later than the 60th day after the date the petition is presented to the district.
(d) The order calling the election must state:
(1) the nature of the election, including the proposition to appear on the ballot;
(2) the date of the election;
(3) the hours during which the polls will be open; and
(4) the location of the polling places.
(e) § 41.001(a), Election Code, does not apply to an election ordered under this section.