Sec. 3885.303. 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 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 2011, 82nd Leg., R.S., Ch. 706 (H.B. 534), Sec. 2.01, eff. September 1, 2011.
Assumption of Assets and Liabilities
Tex. Special District Local Laws Code § 3885.303, under Chapter 3885. Mustang Ranch Municipal Management District No. 1.
Tex. Special District Local Laws Code § 3885.303