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A BILL TO BE ENTITLED
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AN ACT
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relating to procedures for the dissolution of the Bois D'Arc Island |
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Levee Improvement District of Dallas and Kaufman Counties. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Subchapter A, Chapter 7801, Special District |
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Local Laws Code, is amended by adding Section 7801.003 to read as |
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follows: |
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Sec. 7801.003. DISSOLUTION OF DISTRICT. (a) Not later than |
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18 months after the next regularly scheduled election of directors |
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under Section 7801.051, the Commissioners Courts of Dallas and |
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Kaufman Counties may dissolve the district if: |
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(1) at that election, the appropriate number of |
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directors under Section 7801.051(c) are not elected; or |
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(2) the directors elected at that election fail to |
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attend 50 percent of the board meetings scheduled during the 12 |
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months following that election. |
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(b) To dissolve the district under Subsection (a), the |
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Commissioners Courts of Dallas County and Kaufman County each must |
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issue an order dissolving the district. The orders must provide for |
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the: |
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(1) sale or transfer of the district's assets and |
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liabilities; |
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(2) administration of property, assets, and debts of |
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the district until all money has been disposed of and all district |
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debts have been paid or settled; and |
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(3) continued provision of the district's services |
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without interruption to the extent the district has been providing |
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services. |
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(c) The dissolution of the district and the sale or transfer |
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of the district's assets and liabilities may not: |
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(1) violate a trust indenture or bond resolution |
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relating to the outstanding bonds of the district; or |
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(2) diminish or impair the rights of the holders of |
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outstanding bonds, warrants, or other obligations of the district. |
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(d) This section expires January 1, 2020. |
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SECTION 2. This Act takes effect September 1, 2017. |