Texas Special District Local Laws Code 3868.251 – Dissolution by Town Ordinance
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(a) The town may dissolve the district by ordinance.
(b) The town may not dissolve the district until:
(1) the district’s outstanding indebtedness or contractual obligations have been repaid or discharged; or
(2) the town agrees to succeed to the rights and obligations of the district.
Terms Used In Texas Special District Local Laws Code 3868.251
- 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:
(1) each party to the development agreement fulfills the party’s obligations under the agreement; and
(2) the district fulfills the district’s obligation to pay or reimburse a developer or owner for the costs of improvement projects and services undertaken by the district.