Texas Special District Local Laws Code § 3886.253 Assumption Of Assets And Liabilities

Sec. 3886.253. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the town dissolves the district, the town assumes the obligations of the district, including any bonds or other indebtedness payable from assessments or other district revenue.

(b) If the town dissolves the district, the board shall transfer ownership of all district property to the town.

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