Sec. 8107.254. CONTINUING POWERS AND OBLIGATIONS OF NEW DISTRICTS. (a) Each new district may incur and pay debts and has all powers of the original district created by this chapter.
(b) If the district is divided as provided by this subchapter, the current obligations and any bond authorizations of the district are not impaired. Debts shall be paid by revenues or by taxes or assessments imposed on real property in the district as if the district had not been divided or by contributions from each new district as stated in the terms set by the board under Section 8107.251(d).
(c) Any other district obligation shall be divided pro rata among the new districts on an acreage basis or on other terms that are satisfactory to the new districts.
Added by Acts 2005, 79th Leg., Ch. 519 (H.B. 812), Sec. 1, eff. June 17, 2005.
Section: Previous 8107.052 8107.101 8107.102 8107.103 8107.104 8107.105 8107.106 8107.151 8107.152 8107.153 8107.201 8107.251 8107.252 8107.253 8107.254Last modified: September 28, 2016