Sec. 3862.254. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After the city dissolves the district, the city assumes, subject to the appropriation and availability of funds, 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. Added by Acts 2013, 83rd Leg., R.S., Ch. 1365 (S.B. 1601), Sec. 1, eff. June 14, 2013.
Assumption of Assets and Liabilities
Tex. Special District Local Laws Code § 3862.254, under Chapter 3862. Central Laredo Municipal Management District.
Tex. Special District Local Laws Code § 3862.254