Sec. 65.727. DISSOLUTION OF DISTRICT PRIOR TO ISSUANCE OF BONDS. (a) If the board considers it advisable before the issuance of any bonds, notes, or other indebtedness, the board may dissolve a district and liquidate the affairs of the district as provided by this subchapter.
(b) If a majority of the board finds at any time before the issuance of bonds, notes, or other obligations or the final lending of its credit in another form that the proposed undertaking for any reason is impracticable or apparently cannot be successfully and beneficially accomplished, the board may issue notice of a hearing on a proposal to dissolve the district.
Added by Acts 1983, 68th Leg., p. 2448, ch. 435, Sec. 4, eff. Aug. 29, 1983. Amended by Acts 1985, 69th Leg., ch. 447, Sec. 1, eff. Nov. 15, 1985.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 65 - Special Utility Districts
Subchapter H. Adding and Excluding Territory; Consolidating and Dissolving Districts
Section 65.723. Consolidation of Districts
Section 65.724. Elections to Approve Consolidation
Section 65.725. Governing Consolidated Districts
Section 65.726. Debts of Original Districts
Section 65.727. Dissolution of District Prior to Issuance of Bonds
Section 65.728. Notice of Hearing