Sec. 1501.211.  ORDINANCE SPECIFYING DATE OF PASSAGE OF TITLE;  ABOLITION OF DISTRICT.  (a)  After a municipality pays the purchase money for district property and that money is invested in compliance with Section 1501.209, the governing body of the municipality by ordinance shall specify the date on which title to that property passed or will pass to the municipality.  The date specified may be the first day of the fiscal year in which the municipality purchases the district property.
(b)  Title to the district property vests in the municipality for all purposes on the date specified in the ordinance.
(c)  The governing body of the municipality shall abolish the district by the ordinance required by Subsection (a) or a subsequent ordinance.
Added by Acts 1999, 76th Leg., ch. 227, Sec. 1, eff. Sept. 1, 1999.