Sec. 8266.003. CONFIRMATION ELECTION REQUIRED. If the creation of the district is not confirmed at a confirmation election held under Section 8266.023 before September 1, 2011:
(1) the district is dissolved September 1, 2011, except that the district shall:
(A) pay any debts incurred;
(B) transfer to Grayson County any assets that remain after the payment of debts; and
(C) maintain the organization of the district until all debts are paid and remaining assets are transferred; and
(2) this chapter expires September 1, 2014.
Added by Acts 2007, 80th Leg., R.S., Ch. 1129 (H.B. 4069), Sec. 4.01, eff. September 1, 2007.
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