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Daingerfield council approves dissolution plan for the Daingerfield Industrial Development Corporation
Summary
The council unanimously approved Resolution No. 05112026-01 to accept a Termination and Distribution of Assets Plan and to authorize execution of documents to wind up and dissolve the DIDC in accordance with state law.
The Daingerfield City Council on May 11 approved Resolution No. 05112026-01, accepting a Termination and Distribution of Assets Plan for the Daingerfield Industrial Development Corporation (DIDC) and authorizing the preparation and execution of documents necessary to wind up and dissolve the DIDC under state law.
The motion to approve the resolution was made by Councilmember David Hood and seconded by Councilmember Ben Ramirez. The minutes record that all voted for the motion and that it carried. The resolution instructs staff and legal counsel to prepare the necessary documentation to complete the DIDC windup and distribution of assets, as required by applicable state procedures.
No additional financial details or timelines for actual asset distribution were specified in the minutes.
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