After a corporation's bonds and other obligations are paid and discharged, or adequate provision is made for their payment and discharge, the sponsor's governing body by written resolution may authorize and direct the dissolution of the corporation.
Tex. Loc. Gov't Code § 303.101
DISSOLUTION AUTHORIZED
Known as the Public Facility Corporation Act
The act spans §§ 303.001 to 303.124 (56 sections).
Added by Acts 1999, 76th Leg., ch. 227, Sec. 11, 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.