Prior to dissolution, the board may sell its property. If the purchaser of any district property is not a governmental entity, purchase by the person renders the agricultural facility or other property ineligible to issue tax-exempt securities, to impose assessments, or to be eligible for tax-exempt status.
Tex. Agric. Code § 60.152
DISPOSITION OF PROPERTY OF DISSOLVED DISTRICT
Known as the Agricultural Development District Act
The act spans §§ 60–60 (65 sections).
Added by Acts 2001, 77th Leg., ch. 1393, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.