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Texas Special District Local Laws Code - SDLL § 3501.152. Duty to Dissolve

Current as of January 01, 2024 | Updated by Findlaw Staff

(a) The authority shall be dissolved on approval of the City of Lubbock and Lubbock County:

(1) when all the functions of the authority are performed and completed; and

(2) after all debts or obligations have been satisfied or retired with the assets of the authority.

(b) On dissolution, any remaining assets of the authority shall be conveyed or transferred to the City of Lubbock and Lubbock County in proportion to any initial contribution of money made.

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Cite this article: FindLaw.com - Texas Special District Local Laws Code - SDLL § 3501.152. Duty to Dissolve - last updated January 01, 2024 | https://codes.findlaw.com/tx/special-district-local-laws-code/sdll-sect-3501-152/

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