Sec. 3902.304. ASSUMPTION OF ASSETS AND LIABILITIES. (a) After dissolution, the city assumes the obligations of the district, including any bonds or other debt payable from assessments or other district revenue. (b) On or before dissolution, the board shall transfer ownership of all district property to the city. Added by Acts 2011, 82nd Leg., R.S., Ch. 1195 (H.B. 3859), Sec. 1, eff. September 1, 2011.
Assumption of Assets and Liabilities
Tex. Special District Local Laws Code § 3902.304, under Chapter 3902. Club Municipal Management District No. 1.
Tex. Special District Local Laws Code § 3902.304