(a) The board may dissolve the district regardless of whether the district has debt. Section 375.264, Local Government Code, does not apply to the district.(b) If the district has debt when it is dissolved, the district shall remain in existence solely for the purpose of discharging its debts. The dissolution is effective when all debts have been discharged. Acts 2003, 78th Leg., ch. 1277, Sec. 1, eff. April 1, 2005.
Texas Legal Code