Tex. Spec. Dist. Local Laws Code Section 1088.305
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 Reagan County or to another governmental entity in Reagan 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 the board does not make the transfer under Subsection (a)(1), the board shall sell the assets and liabilities to another person under Subsection (a)(2) or administer the property, assets, and debts of the district under Subsection (a)(3), and the district is dissolved when all money has been disposed of and all district debts have been paid or settled.
Added by Acts 2009, 81st Leg., R.S., Ch. 1139 (H.B. 2619), Sec. 1.01, eff. April 1, 2011.

Source: Section 1088.305 — Transfer, Sale, or Administration of Assets, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­1088.­htm#1088.­305 (accessed Nov. 25, 2023).

1088.001
Definitions 1088.002
Authority for Creation 1088.003
Essential Public Function 1088.004
District Territory 1088.005
Correction of Invalid Procedures 1088.006
District Support and Maintenance Not State Obligation 1088.007
Restriction on State Financial Assistance 1088.051
Board Election 1088.052
Notice of Election 1088.053
Qualifications for Office 1088.054
Board Vacancy 1088.055
Officers 1088.056
Voting Requirement 1088.057
Director Participation in Group Health Insurance 1088.058
District Administrator 1088.059
General Duties of District Administrator 1088.060
Appointment and Dismissal of Staff and Employees 1088.061
Recruitment of Medical Staff and Employees 1088.062
Educational Programs 1088.063
Seniority 1088.101
District Responsibility 1088.102
Restriction on Political Subdivision Taxation and Debt 1088.103
Management, Control, and Administration 1088.104
Hospital System 1088.105
Rules 1088.106
Purchasing and Accounting Procedures 1088.107
District Property, Facilities, and Equipment 1088.108
Eminent Domain 1088.109
Cost of Relocating or Altering Property 1088.110
Gifts and Endowments 1088.111
Construction Contracts 1088.112
Operating and Management Contracts 1088.113
Contracts with Governmental Entities for Hospital Treatment 1088.114
Contracts with Governmental Entities for Investigatory or Other Services 1088.115
Payment for Treatment 1088.116
Nonprofit Corporation 1088.117
Authority to Sue and Be Sued 1088.151
Budget 1088.152
Notice 1088.153
Amendments to Budget 1088.154
Restriction on Expenditures 1088.155
Fiscal Year 1088.156
Annual Audit 1088.157
Inspection of Audit and District Records 1088.158
Financial Report 1088.159
Depository 1088.160
Spending and Investment Restrictions 1088.161
Authority to Borrow Money 1088.201
General Obligation Bonds 1088.202
Tax to Pay General Obligation Bonds 1088.203
General Obligation Bond Election 1088.204
Maturity of General Obligation Bonds 1088.205
Execution of General Obligation Bonds 1088.206
Revenue Bonds 1088.207
Bonds Exempt from Taxation 1088.208
Additional Means of Securing Repayment of Bonds 1088.209
Use of Bond Proceeds 1088.251
Imposition of Ad Valorem Tax 1088.252
Tax Rate 1088.253
Tax Assessor-collector 1088.301
Dissolution 1088.302
Notice of Election 1088.303
Ballot 1088.304
Election Results 1088.305
Transfer, Sale, or Administration of Assets 1088.306
Sale or Transfer of Assets and Liabilities 1088.307
Imposition of Tax and Return of Surplus Taxes 1088.308
Report
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Accessed:
Nov. 25, 2023

§ 1088.305’s source at texas​.gov