Sec. 3903.253. 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 2011, 82nd Leg., R.S., Ch. 1191 (H.B. 3827), Sec. 1, eff. June 17, 2011.
Assumption of Assets and Liabilities
Tex. Special District Local Laws Code § 3903.253, under Chapter 3903. Fulshear Town Center Management District.
Tex. Special District Local Laws Code § 3903.253