Sec. 8128.106. 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 in the plan for division.
(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. 445 (S.B. 1823), Sec. 1, eff. September 1, 2005.
Section: Previous 8128.001 8128.002 8128.003 8128.004 8128.005 8128.051 8128.052 8128.101 8128.102 8128.103 8128.104 8128.105 8128.106 8128.107 8128.108 NextLast modified: September 28, 2016