Sec. 3861.253. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the city dissolves the district, the city assumes the obligations of the district, including any bonds or other indebtedness 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. Added by Acts 2007, 80th Leg., R.S., Ch. 531 (S.B. 919), Sec. 1, eff. June 16, 2007.
Assumption of Assets and Liabilities
Tex. Special District Local Laws Code § 3861.253, under Chapter 3861. Viridian Municipal Management District.
Tex. Special District Local Laws Code § 3861.253