(a) The city by ordinance may dissolve the district.
(b) The city may not dissolve the district until the district’s outstanding debt or contractual obligations that are payable from ad valorem taxes have been repaid or discharged, or the city has affirmatively assumed the obligation to pay the outstanding debt from city revenue.

Terms Used In Texas Special District Local Laws Code 3862.251

  • 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.
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