Dissolution By City Ordinance

Sec. 3952.351. DISSOLUTION BY CITY ORDINANCE. (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 have been repaid or discharged, including the defeasance of any outstanding debt issued by the city. (c) The city may not dissolve the district until the development agreement and consent application have 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 2017, 85th Leg., R.S., Ch. 645 (H.B. 4347), Sec. 1, eff. June 12, 2017.