Texas Local Government Code 379H.108 – Dissolution of Land Bank
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(a) A land bank may be dissolved not earlier than the 60th day after the date an affirmative resolution to dissolve the land bank is approved by two-thirds of the membership of the board and confirmed by resolution of the municipality that created the land bank.
(b) Not less than 60 days before the consideration of a resolution of dissolution by the board, the board shall:
(1) provide to the governing body of the municipality that created the land bank written notice of the board’s intent to vote on a resolution for dissolution of the land bank; and
(2) publish the notice in a local newspaper of general circulation.
Terms Used In Texas Local Government Code 379H.108
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Municipality: means a general-law municipality, home-rule municipality, or special-law municipality. See Texas Local Government Code 1.005
- Personal property: All property that is not real property.
- Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
- Written: includes any representation of words, letters, symbols, or figures. See Texas Government Code 311.005
(c) On dissolution of the land bank, all real property, personal property, and other assets and obligations of the land bank become the assets and obligations of the municipality that created the land bank.