Sec. 3894.203. ASSUMPTION OF ASSETS AND LIABILITIES. (a) The district may not be dissolved by the city unless the city assumes the obligations of the district, including any bonds or other indebtedness 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. 880 (S.B. 234), Sec. 1, eff. June 17, 2011.
Section: Previous 3894.112 3894.151 3894.152 3894.153 3894.154 3894.155 3894.156 3894.157 3894.158 3894.159 3894.160 3894.161 3894.162 3894.201 3894.202Last modified: September 28, 2016