Tex. Special District Local Laws Code § 1030.305
This is the official text of Tex. Special District Local Laws Code § 1030.305, part of Texas’s Special District Local Laws Code — consolidates the individual laws creating Texas's special-purpose local government districts.
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§ 1030.305. DISPOSITION OR TRANSFER OF DISTRICT ASSETS; DECLARATION OF DISSOLUTION.
Official statutory text
(a) A board order issued under Section 1030.304 that disposes of district assets must satisfy the district's debts and bond obligations in a manner that protects the interests of citizens in the district, including the citizens' collective property rights in the district's assets and property.
(b) In connection with an election in favor of dissolution, the board may not dispose of or transfer the district's assets except for due compensation unless:
(1) the assets are transferred to another governmental agency, such as a county, embracing the district; and
(2) the transferred assets are to be used for the benefit of citizens formerly in the district.
(c) A grant from federal funds, however dispensed, is an obligation to be repaid in satisfaction.
(d) On completion of the requirements of this section, the board shall declare the district dissolved.
(b) In connection with an election in favor of dissolution, the board may not dispose of or transfer the district's assets except for due compensation unless:
(1) the assets are transferred to another governmental agency, such as a county, embracing the district; and
(2) the transferred assets are to be used for the benefit of citizens formerly in the district.
(c) A grant from federal funds, however dispensed, is an obligation to be repaid in satisfaction.
(d) On completion of the requirements of this section, the board shall declare the district dissolved.
Status: in_force · Read it on the official government site
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