Sec. 3929.304. 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. 978 (H.B. 3605), Sec. 1, eff. September 1, 2015.
Section: Previous 3929.201 3929.202 3929.203 3929.204 3929.205 3929.251 3929.252 3929.253 3929.254 3929.255 3929.256 3929.257 3929.301 3929.302 3929.303Last modified: September 28, 2016