Sec. 3896.203. 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. 699 (H.B. 427), Sec. 1, eff. June 17, 2011.
Section: Previous 3896.110 3896.151 3896.152 3896.153 3896.154 3896.155 3896.156 3896.157 3896.158 3896.159 3896.160 3896.161 3896.162 3896.201 3896.202Last modified: September 28, 2016