State Codes and Statutes

Statutes > Texas > Special-district-local-laws-code > Title-4-development-and-improvement > Chapter-3502-westworth-village-white-settlement-redevelopment-authority

SPECIAL DISTRICT LOCAL LAWS CODE

TITLE 4. DEVELOPMENT AND IMPROVEMENT

SUBTITLE B. DEFENSE BASE DEVELOPMENT

CHAPTER 3502. WESTWORTH VILLAGE-WHITE SETTLEMENT REDEVELOPMENT

AUTHORITY

SUBCHAPTER A. GENERAL PROVISIONS

Sec. 3502.001. DEFINITIONS. In this chapter:

(1) "Authority" means the Westworth Village-White Settlement

Redevelopment Authority.

(2) "Board" means the board of directors of the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.002. WESTWORTH VILLAGE-WHITE SETTLEMENT REDEVELOPMENT

AUTHORITY. The authority is established as a political

subdivision of this state if Westworth Village and White

Settlement each:

(1) adopt a resolution authorizing the authority's

establishment; and

(2) appoint three members to the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.003. AUTHORITY TERRITORY. The boundaries of the

authority territory are the boundaries of Westworth Village and

White Settlement.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.004. EXEMPTION FROM TAXATION. The property, revenue,

and income of the authority are exempt from all taxes imposed by

the state or a political subdivision of the state.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER B. BOARD OF DIRECTORS

Sec. 3502.051. COMPOSITION OF BOARD. The board consists of six

directors. The governing body of each municipality in the

authority shall appoint three directors.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.052. TERM. A director serves a two-year term.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.053. VACANCIES. A vacancy on the board is filled for

the unexpired term in the manner provided for the original

appointment.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.054. OFFICERS. (a) The board shall select from its

membership a presiding officer and an assistant presiding

officer.

(b) The assistant presiding officer presides in the absence of

the presiding officer.

(c) The board shall select a secretary-treasurer. The

secretary-treasurer is not required to be a director.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.055. EMPLOYEES. The board may employ all persons

necessary to carry out the functions of the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER C. AUTHORITY POWERS AND DUTIES

Sec. 3502.101. AUTHORITY OF BOARD. The board shall manage,

operate, and control the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.102. GENERAL POWERS. The authority may exercise, on

approval by and in coordination with the governor, all powers

necessary or appropriate to carry out the purposes of this

chapter, including the power to:

(1) sue and be sued, and plead and be impleaded, in its own

name;

(2) adopt an official seal;

(3) adopt and enforce bylaws and rules for the conduct of its

affairs;

(4) acquire, hold, use, and dispose of its revenue, income,

receipts, and money from every source;

(5) select its depository;

(6) acquire, hold, own, lease, rent, or dispose of any property

or interest in property, including rights or easements, in

performing duties and exercising powers under this chapter by

purchase, exchange, gift, assignment, condemnation, sale, lease,

or otherwise and to hold, manage, operate, or improve the

property;

(7) sell, assign, lease, encumber, mortgage, or otherwise

dispose of any property or interest in property, and release or

relinquish any right, title, claim, lien, interest, easement, or

demand however acquired;

(8) notwithstanding any other law, perform an activity

authorized by Subdivision (7) by public or private sale, with or

without public bidding;

(9) lease or rent any lands within the property and buildings,

structures, or facilities located on the property from or to any

person to carry out the purposes of this chapter;

(10) request and accept any appropriation, grant, allocation,

subsidy, guaranty, aid, service, labor, material, or gift from

any source, including the federal government, this state, a

public agency, or a political subdivision;

(11) maintain an office and appoint and determine the duties,

tenure, qualifications, and compensation of officers, employees,

agents, and professional advisors and counselors, including

financial consultants, accountants, attorneys, architects,

engineers, appraisers, and financing experts, as the board

considers necessary or advisable;

(12) borrow money;

(13) establish, impose, and collect rents, rates, fees, and

charges for its facilities and services;

(14) acquire land or any interest in land within the boundaries

of the authority by condemnation in the manner provided by

Chapter 21, Property Code, subject to the approval of each

municipality in the authority; and

(15) exercise the powers in Chapters 373 and 380, Local

Government Code, granted to a municipality for the development of

housing and expansion of economic development and commercial

activity.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.103. RECEIPT OF PROPERTY. The authority shall accept

title, on approval by and in coordination with the governor, from

the United States to all or any portion of the real property

situated:

(1) within the boundaries of the authority, together with any

improvements located on the property and personal property

related to the property, commonly referred to as:

(A) Parcel A--18 Hole Golf Course;

(B) Parcel B--Wherry Housing Area;

(C) Parcel C--Kings Branch Housing Area;

(D) Parcel D--Stables Area and Vacant Land;

(E) Parcel E--5 acres;

(F) Parcel F--18 acres; and

(G) Parcel H--Firing Range; and

(2) outside the boundaries of the authority within an

unincorporated area in Tarrant County, together with any

improvements located on the property and personal property

related to the property, commonly referred to as Parcel

G--Weapons Storage Area.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.104. USE OF PROPERTY. (a) The authority shall use

the property described by Section 3502.103 and all assistance

available for the property from the United States and all other

sources to replace and enhance the economic benefits generated

for the property by Carswell Air Force Base with diversified

activity, including planned land uses to foster:

(1) creation of new jobs;

(2) economic development;

(3) industry;

(4) commerce;

(5) manufacturing;

(6) housing;

(7) recreation; and

(8) the construction, operation, and maintenance of facilities,

improvements, and infrastructures on the property.

(b) The governing body of Fort Worth must consent in writing

before any use or development of land within the property

commonly referred to as Parcel G may be undertaken.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.105. AWARDING OF CONTRACTS. (a) The board may adopt

rules governing the receiving of bids and the awarding of

contracts.

(b) A contract in the amount of more than $15,000 for the

construction of improvements or the purchase of material,

machinery, equipment, supplies, or any other property, other than

real property, may only be awarded on competitive bids received

by the authority.

(c) Notice must be published in a newspaper of general

circulation in the authority not later than the 16th day before

the date set for receiving bids for a contract described by

Subsection (b).

(d) This section does not apply to:

(1) personal or professional services; or

(2) the acquisition or sale of the property.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER D. DISSOLUTION

Sec. 3502.151. LEGISLATIVE INTENT. The legislature intends that

the authority be dissolved after conveyance and sale of all of

the property described by Section 3502.103.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.152. POWER TO DISSOLVE. (a) The board may dissolve

the authority if:

(1) each municipality in the authority approves the dissolution;

and

(2) all debts or obligations have been satisfied or retired.

(b) Any assets of the authority remaining after all debts or

obligations have been satisfied shall be conveyed or transferred

to the municipalities in the authority as approved by the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

State Codes and Statutes

Statutes > Texas > Special-district-local-laws-code > Title-4-development-and-improvement > Chapter-3502-westworth-village-white-settlement-redevelopment-authority

SPECIAL DISTRICT LOCAL LAWS CODE

TITLE 4. DEVELOPMENT AND IMPROVEMENT

SUBTITLE B. DEFENSE BASE DEVELOPMENT

CHAPTER 3502. WESTWORTH VILLAGE-WHITE SETTLEMENT REDEVELOPMENT

AUTHORITY

SUBCHAPTER A. GENERAL PROVISIONS

Sec. 3502.001. DEFINITIONS. In this chapter:

(1) "Authority" means the Westworth Village-White Settlement

Redevelopment Authority.

(2) "Board" means the board of directors of the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.002. WESTWORTH VILLAGE-WHITE SETTLEMENT REDEVELOPMENT

AUTHORITY. The authority is established as a political

subdivision of this state if Westworth Village and White

Settlement each:

(1) adopt a resolution authorizing the authority's

establishment; and

(2) appoint three members to the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.003. AUTHORITY TERRITORY. The boundaries of the

authority territory are the boundaries of Westworth Village and

White Settlement.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.004. EXEMPTION FROM TAXATION. The property, revenue,

and income of the authority are exempt from all taxes imposed by

the state or a political subdivision of the state.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER B. BOARD OF DIRECTORS

Sec. 3502.051. COMPOSITION OF BOARD. The board consists of six

directors. The governing body of each municipality in the

authority shall appoint three directors.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.052. TERM. A director serves a two-year term.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.053. VACANCIES. A vacancy on the board is filled for

the unexpired term in the manner provided for the original

appointment.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.054. OFFICERS. (a) The board shall select from its

membership a presiding officer and an assistant presiding

officer.

(b) The assistant presiding officer presides in the absence of

the presiding officer.

(c) The board shall select a secretary-treasurer. The

secretary-treasurer is not required to be a director.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.055. EMPLOYEES. The board may employ all persons

necessary to carry out the functions of the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER C. AUTHORITY POWERS AND DUTIES

Sec. 3502.101. AUTHORITY OF BOARD. The board shall manage,

operate, and control the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.102. GENERAL POWERS. The authority may exercise, on

approval by and in coordination with the governor, all powers

necessary or appropriate to carry out the purposes of this

chapter, including the power to:

(1) sue and be sued, and plead and be impleaded, in its own

name;

(2) adopt an official seal;

(3) adopt and enforce bylaws and rules for the conduct of its

affairs;

(4) acquire, hold, use, and dispose of its revenue, income,

receipts, and money from every source;

(5) select its depository;

(6) acquire, hold, own, lease, rent, or dispose of any property

or interest in property, including rights or easements, in

performing duties and exercising powers under this chapter by

purchase, exchange, gift, assignment, condemnation, sale, lease,

or otherwise and to hold, manage, operate, or improve the

property;

(7) sell, assign, lease, encumber, mortgage, or otherwise

dispose of any property or interest in property, and release or

relinquish any right, title, claim, lien, interest, easement, or

demand however acquired;

(8) notwithstanding any other law, perform an activity

authorized by Subdivision (7) by public or private sale, with or

without public bidding;

(9) lease or rent any lands within the property and buildings,

structures, or facilities located on the property from or to any

person to carry out the purposes of this chapter;

(10) request and accept any appropriation, grant, allocation,

subsidy, guaranty, aid, service, labor, material, or gift from

any source, including the federal government, this state, a

public agency, or a political subdivision;

(11) maintain an office and appoint and determine the duties,

tenure, qualifications, and compensation of officers, employees,

agents, and professional advisors and counselors, including

financial consultants, accountants, attorneys, architects,

engineers, appraisers, and financing experts, as the board

considers necessary or advisable;

(12) borrow money;

(13) establish, impose, and collect rents, rates, fees, and

charges for its facilities and services;

(14) acquire land or any interest in land within the boundaries

of the authority by condemnation in the manner provided by

Chapter 21, Property Code, subject to the approval of each

municipality in the authority; and

(15) exercise the powers in Chapters 373 and 380, Local

Government Code, granted to a municipality for the development of

housing and expansion of economic development and commercial

activity.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.103. RECEIPT OF PROPERTY. The authority shall accept

title, on approval by and in coordination with the governor, from

the United States to all or any portion of the real property

situated:

(1) within the boundaries of the authority, together with any

improvements located on the property and personal property

related to the property, commonly referred to as:

(A) Parcel A--18 Hole Golf Course;

(B) Parcel B--Wherry Housing Area;

(C) Parcel C--Kings Branch Housing Area;

(D) Parcel D--Stables Area and Vacant Land;

(E) Parcel E--5 acres;

(F) Parcel F--18 acres; and

(G) Parcel H--Firing Range; and

(2) outside the boundaries of the authority within an

unincorporated area in Tarrant County, together with any

improvements located on the property and personal property

related to the property, commonly referred to as Parcel

G--Weapons Storage Area.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.104. USE OF PROPERTY. (a) The authority shall use

the property described by Section 3502.103 and all assistance

available for the property from the United States and all other

sources to replace and enhance the economic benefits generated

for the property by Carswell Air Force Base with diversified

activity, including planned land uses to foster:

(1) creation of new jobs;

(2) economic development;

(3) industry;

(4) commerce;

(5) manufacturing;

(6) housing;

(7) recreation; and

(8) the construction, operation, and maintenance of facilities,

improvements, and infrastructures on the property.

(b) The governing body of Fort Worth must consent in writing

before any use or development of land within the property

commonly referred to as Parcel G may be undertaken.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.105. AWARDING OF CONTRACTS. (a) The board may adopt

rules governing the receiving of bids and the awarding of

contracts.

(b) A contract in the amount of more than $15,000 for the

construction of improvements or the purchase of material,

machinery, equipment, supplies, or any other property, other than

real property, may only be awarded on competitive bids received

by the authority.

(c) Notice must be published in a newspaper of general

circulation in the authority not later than the 16th day before

the date set for receiving bids for a contract described by

Subsection (b).

(d) This section does not apply to:

(1) personal or professional services; or

(2) the acquisition or sale of the property.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER D. DISSOLUTION

Sec. 3502.151. LEGISLATIVE INTENT. The legislature intends that

the authority be dissolved after conveyance and sale of all of

the property described by Section 3502.103.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.152. POWER TO DISSOLVE. (a) The board may dissolve

the authority if:

(1) each municipality in the authority approves the dissolution;

and

(2) all debts or obligations have been satisfied or retired.

(b) Any assets of the authority remaining after all debts or

obligations have been satisfied shall be conveyed or transferred

to the municipalities in the authority as approved by the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.


State Codes and Statutes


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State Codes and Statutes

Statutes > Texas > Special-district-local-laws-code > Title-4-development-and-improvement > Chapter-3502-westworth-village-white-settlement-redevelopment-authority

SPECIAL DISTRICT LOCAL LAWS CODE

TITLE 4. DEVELOPMENT AND IMPROVEMENT

SUBTITLE B. DEFENSE BASE DEVELOPMENT

CHAPTER 3502. WESTWORTH VILLAGE-WHITE SETTLEMENT REDEVELOPMENT

AUTHORITY

SUBCHAPTER A. GENERAL PROVISIONS

Sec. 3502.001. DEFINITIONS. In this chapter:

(1) "Authority" means the Westworth Village-White Settlement

Redevelopment Authority.

(2) "Board" means the board of directors of the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.002. WESTWORTH VILLAGE-WHITE SETTLEMENT REDEVELOPMENT

AUTHORITY. The authority is established as a political

subdivision of this state if Westworth Village and White

Settlement each:

(1) adopt a resolution authorizing the authority's

establishment; and

(2) appoint three members to the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.003. AUTHORITY TERRITORY. The boundaries of the

authority territory are the boundaries of Westworth Village and

White Settlement.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.004. EXEMPTION FROM TAXATION. The property, revenue,

and income of the authority are exempt from all taxes imposed by

the state or a political subdivision of the state.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER B. BOARD OF DIRECTORS

Sec. 3502.051. COMPOSITION OF BOARD. The board consists of six

directors. The governing body of each municipality in the

authority shall appoint three directors.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.052. TERM. A director serves a two-year term.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.053. VACANCIES. A vacancy on the board is filled for

the unexpired term in the manner provided for the original

appointment.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.054. OFFICERS. (a) The board shall select from its

membership a presiding officer and an assistant presiding

officer.

(b) The assistant presiding officer presides in the absence of

the presiding officer.

(c) The board shall select a secretary-treasurer. The

secretary-treasurer is not required to be a director.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.055. EMPLOYEES. The board may employ all persons

necessary to carry out the functions of the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER C. AUTHORITY POWERS AND DUTIES

Sec. 3502.101. AUTHORITY OF BOARD. The board shall manage,

operate, and control the authority.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.102. GENERAL POWERS. The authority may exercise, on

approval by and in coordination with the governor, all powers

necessary or appropriate to carry out the purposes of this

chapter, including the power to:

(1) sue and be sued, and plead and be impleaded, in its own

name;

(2) adopt an official seal;

(3) adopt and enforce bylaws and rules for the conduct of its

affairs;

(4) acquire, hold, use, and dispose of its revenue, income,

receipts, and money from every source;

(5) select its depository;

(6) acquire, hold, own, lease, rent, or dispose of any property

or interest in property, including rights or easements, in

performing duties and exercising powers under this chapter by

purchase, exchange, gift, assignment, condemnation, sale, lease,

or otherwise and to hold, manage, operate, or improve the

property;

(7) sell, assign, lease, encumber, mortgage, or otherwise

dispose of any property or interest in property, and release or

relinquish any right, title, claim, lien, interest, easement, or

demand however acquired;

(8) notwithstanding any other law, perform an activity

authorized by Subdivision (7) by public or private sale, with or

without public bidding;

(9) lease or rent any lands within the property and buildings,

structures, or facilities located on the property from or to any

person to carry out the purposes of this chapter;

(10) request and accept any appropriation, grant, allocation,

subsidy, guaranty, aid, service, labor, material, or gift from

any source, including the federal government, this state, a

public agency, or a political subdivision;

(11) maintain an office and appoint and determine the duties,

tenure, qualifications, and compensation of officers, employees,

agents, and professional advisors and counselors, including

financial consultants, accountants, attorneys, architects,

engineers, appraisers, and financing experts, as the board

considers necessary or advisable;

(12) borrow money;

(13) establish, impose, and collect rents, rates, fees, and

charges for its facilities and services;

(14) acquire land or any interest in land within the boundaries

of the authority by condemnation in the manner provided by

Chapter 21, Property Code, subject to the approval of each

municipality in the authority; and

(15) exercise the powers in Chapters 373 and 380, Local

Government Code, granted to a municipality for the development of

housing and expansion of economic development and commercial

activity.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.103. RECEIPT OF PROPERTY. The authority shall accept

title, on approval by and in coordination with the governor, from

the United States to all or any portion of the real property

situated:

(1) within the boundaries of the authority, together with any

improvements located on the property and personal property

related to the property, commonly referred to as:

(A) Parcel A--18 Hole Golf Course;

(B) Parcel B--Wherry Housing Area;

(C) Parcel C--Kings Branch Housing Area;

(D) Parcel D--Stables Area and Vacant Land;

(E) Parcel E--5 acres;

(F) Parcel F--18 acres; and

(G) Parcel H--Firing Range; and

(2) outside the boundaries of the authority within an

unincorporated area in Tarrant County, together with any

improvements located on the property and personal property

related to the property, commonly referred to as Parcel

G--Weapons Storage Area.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.104. USE OF PROPERTY. (a) The authority shall use

the property described by Section 3502.103 and all assistance

available for the property from the United States and all other

sources to replace and enhance the economic benefits generated

for the property by Carswell Air Force Base with diversified

activity, including planned land uses to foster:

(1) creation of new jobs;

(2) economic development;

(3) industry;

(4) commerce;

(5) manufacturing;

(6) housing;

(7) recreation; and

(8) the construction, operation, and maintenance of facilities,

improvements, and infrastructures on the property.

(b) The governing body of Fort Worth must consent in writing

before any use or development of land within the property

commonly referred to as Parcel G may be undertaken.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.105. AWARDING OF CONTRACTS. (a) The board may adopt

rules governing the receiving of bids and the awarding of

contracts.

(b) A contract in the amount of more than $15,000 for the

construction of improvements or the purchase of material,

machinery, equipment, supplies, or any other property, other than

real property, may only be awarded on competitive bids received

by the authority.

(c) Notice must be published in a newspaper of general

circulation in the authority not later than the 16th day before

the date set for receiving bids for a contract described by

Subsection (b).

(d) This section does not apply to:

(1) personal or professional services; or

(2) the acquisition or sale of the property.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

SUBCHAPTER D. DISSOLUTION

Sec. 3502.151. LEGISLATIVE INTENT. The legislature intends that

the authority be dissolved after conveyance and sale of all of

the property described by Section 3502.103.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.

Sec. 3502.152. POWER TO DISSOLVE. (a) The board may dissolve

the authority if:

(1) each municipality in the authority approves the dissolution;

and

(2) all debts or obligations have been satisfied or retired.

(b) Any assets of the authority remaining after all debts or

obligations have been satisfied shall be conveyed or transferred

to the municipalities in the authority as approved by the board.

Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.


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