Sec. 1098.305. TRANSFER, SALE, OR ADMINISTRATION OF ASSETS. (a) If a majority of the votes in an election held under this subchapter favor dissolution, the board shall:
(1) transfer the land, buildings, improvements, equipment, and other assets that belong to the district to a county or to another governmental entity in Stonewall County;
(2) sell the assets and liabilities to another person; or
(3) administer the property, assets, and debts until all money has been disposed of and all district debts have been paid or settled.
(b) If the board makes the transfer under Subsection (a)(1), the county or entity assumes all debts and obligations of the district at the time of the transfer, and the district is dissolved.
Added by Acts 2011, 82nd Leg., R.S., Ch. 70 (S.B. 1147), Sec. 1.01, eff. April 1, 2013.
Structure Texas Statutes
Special District Local Laws Code
Subtitle A - Hospital Districts
Chapter 1098 - Stonewall County Hospital District
Section 1098.301. Dissolution; Election
Section 1098.302. Notice of Election
Section 1098.304. Election Results
Section 1098.305. Transfer, Sale, or Administration of Assets
Section 1098.306. Sale or Transfer of Assets and Liabilities
Section 1098.307. Imposition of Tax and Return of Surplus Taxes