(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) The board may order an election on the question of dissolving the district and transferring the district’s assets and liabilities.

Terms Used In Texas Special District Local Laws Code 1043.301

  • 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 a number of district residents equal to 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 board.
(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) Section 41.001(a), Election Code, does not apply to an election ordered under this section.

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