Texas Local Government Code

§ 62.162 — SETTLEMENT BY TRUSTEES

LG § 62.162Title 2. ORGANIZATION OF MUNICIPAL GOVERNMENT · Part E. CONSOLIDATION AND ABOLITION OF MUNICIPALITIES · Ch. 62. ABOLITION OF MUNICIPALITIES · Art. E. PAYMENT OF INDEBTEDNESS AND DISPOSITION OF ASSETS BY CORPORATE OFFICERS OR TRUSTEES

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(a)If a municipality's officers fail or refuse to settle its affairs under Section 62.161, on the petition of any resident taxpayer of the municipality or any holder of an evidence of its indebtedness, a court with jurisdiction and located in the county in which the municipality is located shall appoint three trustees to take control of the municipality's property, dispose of the property, and settle its debts.

(b)The trustees have the same powers that municipal officers have under this subchapter.

Legislative history

Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.