Sec. 58.787. DISCHARGE OF DISTRICT'S OBLIGATIONS BY TRUSTEES. (a) The trustee shall reduce all assets and resources of the district to possession and money and apply them to discharge the outstanding obligations of the district, having regard to specific funds.
(b) If required, the board shall levy, assess, and collect sufficient additional taxes to pay all necessary expenses and outstanding obligations of the district.
Added by Acts 1977, 65th Leg., p. 1537, ch. 627, Sec. 1, eff. Aug. 29, 1977.
Section: Previous 58.731 58.781 58.782 58.783 58.784 58.785 58.786 58.787 58.788 58.789 58.790 58.791 58.793 58.794 58.795 NextLast modified: September 28, 2016