If the creation of the district is not confirmed at a confirmation election held before September 1, 2011:

1. (1) the district is dissolved on September 1, 2011, except that:

   1. (A) any debts incurred shall be paid;
   2. (B) any assets that remain after the payment of debts shall be transferred to Colorado County; and
   3. (C) the organization of the district shall be maintained until all debts are paid and remaining assets are transferred; and
2. (2) this chapter expires on September 1, 2013.

Added by Acts 2007, 80th Leg., R.S., Ch. 953 (H.B. 4032), Sec. 1, eff. June 15, 2007.