Sec. 8248.254. 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 8248.251(d).
(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. 1003 (S.B. 2020), Sec. 1, eff. June 15, 2007.
Added by Acts 2007, 80th Leg., R.S., Ch. 1142 (H.B. 4111), Sec. 1, eff. June 15, 2007.
Section: Previous 8248.022 8248.023 8248.024 8248.025 8248.051 8248.101 8248.102 8248.103 8248.104 8248.151 8248.201 8248.251 8248.252 8248.253 8248.254Last modified: September 28, 2016