Sec. 8141.254. 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 8141.251(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. 778 (H.B. 3574), Sec. 1, eff. June 17, 2005.
Section: Previous 8141.052 8141.101 8141.102 8141.103 8141.104 8141.105 8141.106 8141.151 8141.152 8141.153 8141.201 8141.251 8141.252 8141.253 8141.254Last modified: September 28, 2016