Texas Special District Local Laws Code § 3906.353 Assumption Of Assets And Liabilities

Sec. 3906.353. ASSUMPTION OF ASSETS AND LIABILITIES. If the city dissolves the district:

(1) the city assumes the obligations of the district, including any bonds or other debt payable from assessments or other district revenue; and

(2) the board shall transfer ownership of all district property to the city.

Added by Acts 2011, 82nd Leg., R.S., Ch. 1269 (S.B. 1922), Sec. 1, eff. June 17, 2011.

Section: Previous  3906.255  3906.256  3906.257  3906.258  3906.259  3906.260  3906.301  3906.302  3906.303  3906.304  3906.305  3906.306  3906.307  3906.351  3906.352

Last modified: September 28, 2016