Texas Special District Local Laws Code 3902.304 – Assumption of Assets and Liabilities
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(a) After dissolution, the city assumes the obligations of the district, including any bonds or other debt payable from assessments or other district revenue.
(b) On or before dissolution, the board shall transfer ownership of all district property to the city.
Terms Used In Texas Special District Local Laws Code 3902.304
- Property: means real and personal property. See Texas Government Code 311.005