Texas Water Code
§ 49.197 — FINANCIALLY DORMANT DISTRICTS
WA § 49.197Title 4. GENERAL LAW DISTRICTS · Ch. 49. PROVISIONS APPLICABLE TO ALL DISTRICTS · Art. G. AUDIT OF DISTRICTS
Statute text
View on source(a)A financially dormant district is a district that had:
(1)$500 or less of receipts from operations, tax assessments, loans, contributions, or any other sources during the calendar year;
(2)$500 or less of disbursements of funds during the calendar year;
(3)no bonds or other long-term (more than one year) liabilities outstanding during the calendar year; and
(4)no cash or investments that exceeded $5,000 at any time during the calendar year.
(b)A financially dormant district may elect to submit to the executive director a financial dormancy affidavit instead of complying with the audit requirements of Section 49.191.
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Legislative history
Added by Acts 1995, 74th Leg., ch. 715, Sec. 2, eff. Sept. 1, 1995.