(a) The governing body of a governmental entity to which a road facility has been conveyed under Section 441.133 is the ex officio board of directors of the district making the transfer if:
(1) all district road facilities are conveyed only to that governmental entity;
(2) all construction, acquisition, and improvement of road facilities provided for in the plan approved by the commission have been completed;
(3) the board of directors consents to the transfer of powers and duties to the governing body of the governmental entity;
(4) the governing body of the governmental entity consents to assuming the administrative powers and duties of the district; and
(5) the commission approves the transfer of the powers and duties.
(b) On the effective date of the transfer of the powers and duties, the board of directors from whom the transfer is made is dissolved. On and after that date the administrative powers and duties transferred are the powers and duties of the governing body of the governmental entity.