Sec. 8204.254. 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 revenue 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 8204.251(e).
(c) Any other district obligation is 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 2007, 80th Leg., R.S., Ch. 983 (S.B. 1092), Sec. 1, eff. June 15, 2007.
Section: Previous 8204.004 8204.005 8204.051 8204.101 8204.102 8204.103 8204.104 8204.151 8204.152 8204.153 8204.201 8204.251 8204.252 8204.253 8204.254Last modified: September 28, 2016