Limitation On Dissolution

Sec. 3897.352. LIMITATION ON DISSOLUTION. The municipality may not dissolve the district until: (1) the district's outstanding bonds have been repaid or defeased; (2) the district's outstanding debt or contractual obligations that are payable from ad valorem taxes have been repaid or discharged; and (3) each agreement under Section 3897.251 has been executed and the district's performance under the agreement has been fulfilled, including any right or obligation the district has to reimburse a developer or owner for the costs of improvement projects. Added by Acts 2011, 82nd Leg., R.S., Ch. 656 (S.B. 1184), Sec. 1, eff. June 17, 2011.