Texas Water Code 56.808 – Title to Property; Assumption of Debt
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(a) Title to all property of the consolidating districts vests in the consolidated district. The consolidated district assumes and is liable for the outstanding indebtedness of the consolidating districts.
(b) All enforceable contract rights held or owned by a consolidating district are owned and held by the consolidated district. The consolidated district is liable for contractual obligations of a consolidating district.
Terms Used In Texas Water Code 56.808
- Contract: A legal written agreement that becomes binding when signed.
- Property: means real and personal property. See Texas Government Code 311.005