Texas Special District Local Laws Code § 3926.303 Collection Of Assessments And Other Revenue

Sec. 3926.303. COLLECTION OF ASSESSMENTS AND OTHER REVENUE. (a) If the dissolved district has bonds or other obligations outstanding secured by and payable from assessments or other revenue, the city succeeds to the rights and obligations of the district regarding enforcement and collection of the assessments or other revenue.

(b) The city shall have and exercise all district powers to enforce and collect the assessments or other revenue to pay:

(1) the bonds or other obligations when due and payable according to their terms; or

(2) revenue or assessment bonds or other obligations issued by the city to refund the outstanding bonds or obligations of the district.

Added by Acts 2015, 84th Leg., R.S., Ch. 977 (H.B. 3603), Sec. 1, eff. September 1, 2015.

Section: Previous  3926.201  3926.202  3926.203  3926.204  3926.205  3926.251  3926.252  3926.253  3926.254  3926.255  3926.256  3926.257  3926.301  3926.302  3926.303

Last modified: September 28, 2016