Sec. 3976.0603. 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 2019, 86th Leg., R.S., Ch. 1253 (H.B. 4637), Sec. 1, eff. September 1, 2019. SUBCHAPTER G. SPECIAL BOND PROVISIONS
Assumption of Assets and Liabilities
Tex. Special District Local Laws Code § 3976.0603, under Chapter 3976. City of Kemah Municipal Management District No. 1.
Tex. Special District Local Laws Code § 3976.0603