In addition to the dissolution procedures provided by Chapter 172, the board may dissolve a district if:
(1) all district liabilities have been paid or adequate provision has been made for the payment of all liabilities;
(2) the district is not a party to any lawsuits or adequate provision has been made for the satisfaction of any judgment or order that may be entered against the district in a lawsuit to which the district is a party; and
(3) the district has commitments from other governmental entities to assume jurisdiction of all district rail facilities.
Official text of the Texas Transportation Code as published by the Texas Legislative Council.