Sec. 8108.254. 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 8108.251(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. 520 (H.B. 813), Sec. 1, eff. June 17, 2005.
Section: Previous 8108.051 8108.052 8108.101 8108.102 8108.103 8108.104 8108.105 8108.151 8108.152 8108.153 8108.201 8108.251 8108.252 8108.253 8108.254Last modified: September 28, 2016