Tex. Local Gov't Code Section 386.301
Dissolution of Development Zone by Creating Body

(a)

After a hearing, a creating body may dissolve a development zone if:

(1)

the area no longer meets the criteria for designation under this chapter;

(2)

the best interests of the creating body and the owners of property and interests in property in the zone will be served by dissolving the zone; and

(3)

each creating body agrees by ordinance or order on the:

(A)

proposition that the zone should be dissolved;

(B)

disposition of zone assets; and

(C)

assumption of liabilities by the creating bodies.

(b)

The dissolution of a development zone does not affect the validity of a:

(1)

tax incentive or regulatory relief granted or accrued before the removal; or

(2)

bond issued under this chapter.
Added by Acts 2001, 77th Leg., ch. 1390, Sec. 1, eff. June 16, 2001.

Source: Section 386.301 — Dissolution of Development Zone by Creating Body, https://statutes.­capitol.­texas.­gov/Docs/LG/htm/LG.­386.­htm#386.­301 (accessed May 18, 2024).

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Accessed:
May 18, 2024

§ 386.301’s source at texas​.gov