Sec. 3886.252. COLLECTION OF ASSESSMENTS AND OTHER REVENUE. (a) If the dissolved district has bonds or other obligations outstanding secured by and payable from assessments or other revenue, other than ad valorem taxes, the town shall succeed to the rights and obligations of the district regarding enforcement and collection of the assessments or other revenue.
(b) The town shall have and exercise all district powers to enforce and collect the assessments or other revenue to pay:
(1) the bonds or other obligations when due and payable according to their terms; or
(2) special revenue or assessment bonds or other obligations issued by the town to refund the outstanding bonds or obligations.
Added by Acts 2009, 81st Leg., R.S., Ch. 1077 (H.B. 4752), Sec. 1, eff. September 1, 2009.Section: Previous 3886.108 3886.109 3886.110 3886.111 3886.151 3886.152 3886.153 3886.154 3886.201 3886.202 3886.203 3886.204 3886.205 3886.251 3886.252
Last modified: September 28, 2016