Tex. Spec. Dist. Local Laws Code Section 1037.305
Transfer, Sale, or Administration of Assets

(a)

If a majority of the votes in an election held under this subchapter favor dissolution, the board shall:

(1)

transfer the land, buildings, improvements, equipment, and other assets that belong to the district to Jones County or another governmental entity in Jones County;

(2)

sell the assets and liabilities to another person; or

(3)

administer the property, assets, and debts until all money has been disposed of and all district debts have been paid or settled.

(b)

If the board makes the transfer under Subsection (a)(1), the county or entity assumes all debts and obligations of the district at the time of the transfer, and the district is dissolved.

(c)

If Subsections (a)(1) and (2) do not apply and the board administers the property, assets, and debts of the district under Subsection (a)(3), the district is dissolved when all money has been disposed of and all district debts have been paid or settled.
Added by Acts 2013, 83rd Leg., R.S., Ch. 987 (H.B. 2118), Sec. 1, eff. September 1, 2013.

Source: Section 1037.305 — Transfer, Sale, or Administration of Assets, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1037.­htm#1037.­305 (accessed Jun. 5, 2024).

1037.001
Definitions 1037.002
Authority for Creation 1037.003
Essential Public Function 1037.004
District Territory 1037.005
Correction of Invalid Procedures 1037.006
District Support and Maintenance Not State Obligation 1037.051
Board Election 1037.052
Notice of Election 1037.053
Ballot Petition 1037.054
Qualifications for Office 1037.055
Board Vacancy 1037.056
Officers 1037.057
Compensation 1037.058
District Administrator 1037.059
General Duties of District Administrator 1037.060
Employees 1037.101
District Responsibility 1037.102
Restriction on Political Subdivision Taxation and Debt 1037.103
Management, Control, and Administration 1037.104
Hospital System 1037.105
Rules 1037.106
Purchasing and Accounting Procedures 1037.107
District Property, Facilities, and Equipment 1037.108
Eminent Domain 1037.109
Gifts and Endowments 1037.110
Construction Contracts 1037.111
Operating and Management Contracts 1037.112
Contracts with Governmental Entities for Care and Treatment 1037.113
Contracts with Governmental Entities for Investigatory or Other Services 1037.114
Payment for Treatment 1037.115
Authority to Sue and Be Sued 1037.151
Budget 1037.152
Notice 1037.153
Amendments to Budget 1037.154
Fiscal Year 1037.155
Audit 1037.156
Inspection of Audit and District Records 1037.157
Financial Report 1037.158
Depository 1037.159
Spending and Investment Restrictions 1037.201
General Obligation Bonds 1037.202
Tax to Pay General Obligation Bonds 1037.203
General Obligation Bond Election 1037.204
Revenue Bonds 1037.205
Refunding Bonds 1037.206
Maturity of Bonds 1037.207
Execution of Bonds 1037.208
Bonds Exempt from Taxation 1037.251
Imposition of Ad Valorem Tax 1037.252
Tax Rate 1037.253
Tax Assessor-collector 1037.301
Dissolution 1037.302
Notice of Election 1037.303
Ballot 1037.304
Election Results 1037.305
Transfer, Sale, or Administration of Assets 1037.306
Sale or Transfer of Assets and Liabilities 1037.307
Imposition of Tax and Return of Surplus Taxes 1037.308
Report 1037.0515
Election of Directors by Cumulative Voting
Green check means up to date. Up to date

Accessed:
Jun. 5, 2024

§ 1037.305’s source at texas​.gov