Texas Special District Local Laws Code 8803.103 – Power to Contract With Municipalities
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Special District Local Laws Code 8803.103
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
- Contract: A legal written agreement that becomes binding when signed.
- Liabilities: The aggregate of all debts and other legal obligations of a particular person or legal entity.
The district may enter into a contract with a municipality to assume the functions of the municipality’s municipally owned utility. A contract under this section may include provisions for the district’s:
(1) assumption of the debts, liabilities, and obligations of the municipally owned utility;
(2) ownership or use of the assets and facilities of the municipally owned utility; and
(3) performance of the functions and services previously provided by the municipally owned utility.