Sec. 3926.304. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the city dissolves the district, the city assumes the obligations of the district, including any contractual obligations or 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 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 3926.303Last modified: September 28, 2016