Sec. 3885.303. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the city dissolves the district, the city assumes the obligations of the district, including any bonds or other debt payable from assessments or other district revenue.
(b) If the city dissolves the district, the board shall transfer ownership of all district property to the city.
Added by Acts 2011, 82nd Leg., R.S., Ch. 706 (H.B. 534), Sec. 2.01, eff. September 1, 2011.
Section: Previous 3885.202 3885.203 3885.204 3885.205 3885.251 3885.252 3885.253 3885.254 3885.255 3885.256 3885.257 3885.258 3885.259 3885.301 3885.302Last modified: September 28, 2016