Tex. Spec. Dist. Local Laws Code Section 1013.306
Sale or Transfer of Assets and Liabilities

(a)

The district may not be dissolved unless the board provides for the sale or transfer of the district’s assets and liabilities to another person.

(b)

The dissolution of the district and the sale or transfer of the district’s assets or liabilities may not contravene a trust indenture or bond resolution relating to the district’s outstanding bonds. The dissolution and sale or transfer does not diminish or impair the rights of a holder of an outstanding bond, warrant, or other obligation of the district.

(c)

The sale or transfer of the district’s assets and liabilities must satisfy the debt and bond obligations of the district in a manner that protects the interests of district residents, including the residents’ collective property rights in the district’s assets.

(d)

The district may not transfer or dispose of the district’s assets except for due compensation unless:

(1)

the transfer is made to another governmental agency that serves the district; and

(2)

the transferred assets are to be used for the benefit of the district’s residents.

(e)

A grant from federal funds is an obligation to be repaid in satisfaction.
Added by Acts 2007, 80th Leg., R.S., Ch. 920 (H.B. 3166), Sec. 1.02, eff. April 1, 2009.

Source: Section 1013.306 — Sale or Transfer of Assets and Liabilities, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1013.­htm#1013.­306 (accessed Jun. 5, 2024).

1013.001
Definitions 1013.002
Authority for Operation 1013.003
Essential Public Function 1013.004
District Territory 1013.005
Correction of Invalid Procedures 1013.051
Board Election 1013.052
Notice of Election 1013.053
Qualifications for Office 1013.054
Bond 1013.055
Board Vacancy 1013.056
Officers 1013.057
Compensation 1013.058
Voting Requirement 1013.059
District Administrator 1013.060
General Duties of District Administrator 1013.061
Employees 1013.062
Recruitment of Medical Staff and Employees 1013.063
Appointment and Removal of Medical Staff 1013.064
Health Care Educational Programs 1013.065
Retirement Benefits 1013.066
Liability Insurance 1013.067
Maintenance of Records 1013.068
Seal 1013.101
District Responsibility 1013.102
Restriction on County or Municipality Taxation 1013.103
Management and Control 1013.104
Hospital System 1013.105
Rules 1013.106
Purchasing and Accounting Procedures 1013.107
Mobile Emergency Medical Service 1013.108
District Property, Facilities, and Equipment 1013.109
Eminent Domain 1013.110
Gifts and Endowments 1013.111
Contracts for Care and Treatment 1013.112
Contracts with Governmental Entities for Investigatory or Other Services 1013.113
Provision of Services Outside District 1013.114
Joint Administration or Delivery of Health Care Services 1013.115
Payment for Treatment 1013.116
Reimbursement for Services 1013.117
Nonprofit Corporation 1013.118
Authority to Sue and Be Sued 1013.151
Budget 1013.152
Proposed Budget: Notice and Hearing 1013.153
Fiscal Year 1013.154
Annual Audit 1013.155
Depository or Treasurer 1013.156
Authority to Borrow Money 1013.201
General Obligation Bonds 1013.202
Tax to Pay General Obligation Bonds 1013.203
General Obligation Bond Election 1013.204
Maturity of General Obligation Bonds 1013.205
Execution of General Obligation Bonds 1013.206
Revenue Bonds 1013.207
Refunding Bonds 1013.208
Bonds Exempt from Taxation 1013.209
Additional Means of Securing Repayment of Bonds 1013.210
Use of Bond Proceeds 1013.251
Imposition of Ad Valorem Tax 1013.252
Tax Rate 1013.253
Tax Assessor-collector 1013.301
Dissolution 1013.302
Notice of Election 1013.303
Ballot 1013.304
Election Results 1013.305
Transfer or Administration of Assets 1013.306
Sale or Transfer of Assets and Liabilities 1013.307
Imposition of Tax and Return of Surplus Taxes 1013.308
Report
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Accessed:
Jun. 5, 2024

§ 1013.306’s source at texas​.gov