Sec. 57.344. ACCELERATED RETIREMENT OF BONDS. (a) If there are any district bonds outstanding at the time the commissioners court issues the dissolution order, the commissioners court shall immediately begin negotiations with the holders of the bonds to determine whether or not the retirement of the bonds can be accelerated.
(b) If the bonds can be retired at an earlier date than the date stipulated on their face, either as a result of the terms of the bonds or because of an agreement between the commissioners court and the holders of the bonds, then the commissioners court may levy a tax to pay off the bonds as quickly as possible.
(c) The commissioners court shall have the tax assessed and collected annually or at one time.
Acts 1971, 62nd Leg., p. 110, ch. 58, Sec. 1, eff. Aug. 30, 1971.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 57 - Levee Improvement Districts
Section 57.321. Dissolution of a District
Section 57.322. Requirements for Dissolving a District by Petition
Section 57.323. Return of Taxes on Dissolution
Section 57.324. Dissolving a District by Election
Section 57.326. Election Order
Section 57.327. Election Procedure, Time, and Place for Holding Election
Section 57.329. Vote Necessary to Carry Proposition
Section 57.3295. Dissolution of District by Commissioners Court Without Petition
Section 57.330. Commissioners Court Order Dissolving District
Section 57.331. Dissolution Trustees
Section 57.332. Trustees' Bond
Section 57.333. Trustees' Compensation
Section 57.334. Appointment of Trustee to Fill Vacancy
Section 57.335. General Duties of Trustees
Section 57.336. Trustees' Expense
Section 57.337. Claims That Were Approved Before District Was Dissolved
Section 57.338. Protesting Payment of Claims Approved Before District Was Dissolved
Section 57.339. Claims Not Approved Before District Was Dissolved
Section 57.340. Claims, Payment Orders, and Appeals
Section 57.341. Claims Judgments
Section 57.342. Claims to Be Paid
Section 57.343. Disposition of Debts After Election