Sec. 3889.254. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the city dissolves the district, the city assumes, subject to the appropriation and availability of funds, 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. 1192 (H.B. 3828), Sec. 1, eff. June 17, 2011.
Section: Previous 3889.110 3889.151 3889.152 3889.153 3889.154 3889.155 3889.156 3889.157 3889.201 3889.202 3889.203 3889.204 3889.251 3889.252 3889.253Last modified: September 28, 2016