Sec. 7801.003. DISSOLUTION OF DISTRICT. (a) Not later than 18 months after the next regularly scheduled election of directors under Section 7801.051, the Commissioners Courts of Dallas and Kaufman Counties may dissolve the district if:

(1) at that election, the appropriate number of directors under Section 7801.051(c) are not elected; or

(2) the directors elected at that election fail to attend 50 percent of the board meetings scheduled during the 12 months following that election.

(b) To dissolve the district under Subsection (a), the Commissioners Courts of Dallas County and Kaufman County each must issue an order dissolving the district. The orders must provide for the:

(1) sale or transfer of the district's assets and liabilities;

(2) administration of property, assets, and debts of the district until all money has been disposed of and all district debts have been paid or settled; and

(3) continued provision of the district's services without interruption to the extent the district has been providing services.

(c) The dissolution of the district and the sale or transfer of the district's assets and liabilities may not:

(1) violate a trust indenture or bond resolution relating to the outstanding bonds of the district; or

(2) diminish or impair the rights of the holders of outstanding bonds, warrants, or other obligations of the district.

(d) This section expires January 1, 2020.

Added by Acts 2017, 85th Leg., R.S., Ch. 407 (H.B. 1709), Sec. 1, eff. September 1, 2017.