Texas Special District Local Laws Code § 8162.254 Continuing Powers And Obligations Of New Districts

Sec. 8162.254. CONTINUING POWERS AND OBLIGATIONS OF NEW DISTRICTS. (a) Each new district may incur and pay debts and has all powers of the original district created by this chapter.

(b) If the district is divided as provided by this subchapter, the current obligations and any bond authorizations of the district are not impaired. Debts shall be paid by revenue or by taxes or assessments imposed on real property in the district as if the district had not been divided or by contributions from each new district as stated in the terms set by the board under Section 8162.251(e).

(c) Any other district obligation is divided pro rata among the new districts on an acreage basis or on other terms that are satisfactory to the new districts.

Added by Acts 2007, 80th Leg., R.S., Ch. 497 (S.B. 323), Sec. 1, eff. June 16, 2007.

Section: Previous  8162.003  8162.004  8162.005  8162.051  8162.101  8162.102  8162.103  8162.151  8162.152  8162.153  8162.201  8162.251  8162.252  8162.253  8162.254

Last modified: September 28, 2016