Texas Special District Local Laws Code 3954.253 – Assumption of Assets and Liabilities
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(a) After the city dissolves the district, the city assumes the obligations of the district, including any bonds or other debt payable from assessments or other district revenue.
(b) If the city dissolves the district, the board shall transfer ownership of all district property to the city.
Terms Used In Texas Special District Local Laws Code 3954.253
- Property: means real and personal property. See Texas Government Code 311.005