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Relating to bonds issued by and the dissolution of municipal
No fiscal implication to the State is anticipated.
SB 1329 would prohibit the issuance of bonds by a municipal management district after a petition for dissolution is filed. This would prevent municipal management districts from extending their life by issuing debt. They cannot be dissolved until all debt has been paid off.
Texas Action supports SB 1329 on the basis of limited government and property rights. If property owners call for a dissolution of a management district, the district should not be able to add more burden to taxpayers, effectively extending its life against the wishes of voters.