Texas Special District Local Laws Code § 3902.304 Assumption Of Assets And Liabilities

Sec. 3902.304. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After dissolution, the city assumes the obligations of the district, including any bonds or other debt payable from assessments or other district revenue.

(b) On or before dissolution, the board shall transfer ownership of all district property to the city.

Added by Acts 2011, 82nd Leg., R.S., Ch. 1195 (H.B. 3859), Sec. 1, eff. September 1, 2011.

Section: Previous  3902.252  3902.253  3902.254  3902.255  3902.256  3902.257  3902.258  3902.259  3902.260  3902.261  3902.262  3902.263  3902.301  3902.302  3902.303

Last modified: September 28, 2016