Sec. 7212.003. CONFIRMATION ELECTION REQUIRED. If the creation of the district is not confirmed at a confirmation and initial directors' election held before September 1, 2009:
(1) the district is dissolved on September 1, 2009, except that:
(A) any debts of the district incurred shall be paid;
(B) any assets of the district that remain after the payment of debts shall be transferred to Caldwell, Hays, or Travis County, as appropriate; and
(C) the organization of the district shall be maintained until all debts are paid and remaining assets are transferred; and
(2) this chapter expires September 1, 2012.
Added by Acts 2007, 80th Leg., R.S., Ch. 569 (S.B. 1661), Sec. 1, eff. June 16, 2007.
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