Texas HB5660 mandates the dissolution of the El Milagro Management District, with specific provisions for winding up operations and repaying bonded.

Texas HB5660 addresses the dissolution of the El Milagro Management District, established by the Texas Commission on Environmental Quality on June 13, 2024. The board of the district is required to dissolve it within 60 days of the Act's effective date, unless it has outstanding bonded indebtedness. In such cases, the district will continue to exist to wind up operations and discharge its bonded indebtedness. The board must use available district funds to settle operations and repay or defease the bonded indebtedness as soon as practicable.

Texas HB5660 mandates the dissolution of the El Milagro Management District, with specific provisions for winding up operations and repaying bonded.

Texas HB5660 addresses the dissolution of the El Milagro Management District, established by the Texas Commission on Environmental Quality on June 13, 2024. The board of the district is required to dissolve it within 60 days of the Act's effective date, unless it has outstanding bonded indebtedness. In such cases, the district will continue to exist to wind up operations and discharge its bonded indebtedness. The board must use available district funds to settle operations and repay or defease the bonded indebtedness as soon as practicable.