Sec. 3897.354. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the municipality dissolves the district, the municipality assumes the obligations of the district, including any debt payable from assessments or other district revenue.
(b) If the municipality dissolves the district, the board shall transfer ownership of all district property to the municipality in which the property is located, or if the property is not located in a municipality, to the county in which the property is located.
Added by Acts 2011, 82nd Leg., R.S., Ch. 656 (S.B. 1184), Sec. 1, eff. June 17, 2011.
Section: Previous 3897.256 3897.257 3897.258 3897.259 3897.260 3897.301 3897.302 3897.303 3897.304 3897.305 3897.306 3897.307 3897.351 3897.352 3897.353Last modified: September 28, 2016