Sec. 3898.254. 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 2013, 83rd Leg., R.S., Ch. 548 (S.B. 605), Sec. 1, eff. June 14, 2013.
Section: Previous 3898.155 3898.156 3898.157 3898.158 3898.159 3898.160 3898.201 3898.202 3898.203 3898.204 3898.205 3898.206 3898.251 3898.252 3898.253Last modified: September 28, 2016