Sec. 8138.254. 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 8138.251(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. 1361 (S.B. 1894), Sec. 2.01, eff. June 18, 2006.
Section: Previous 8138.051 8138.052 8138.101 8138.102 8138.103 8138.104 8138.105 8138.151 8138.152 8138.153 8138.201 8138.251 8138.252 8138.253 8138.254Last modified: September 28, 2016