If the creation of the district is not confirmed at a confirmation election held under Section 8837.022 before December 31, 2012:

1. (1) the district is dissolved December 31, 2012, 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 Terrell 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 September 1, 2016.

Added by Acts 2011, 82nd Leg., R.S., Ch. 336 (H.B. 2859), Sec. 1, eff. September 1, 2011.