Section 1033.304 - Transfer of District Assets(a) If a majority of the votes in the election favor dissolution and transfer of the district's assets and obligations, the board shall transfer to the governmental entity specified in the election order the land, buildings, improvements, equipment, and other assets that belong to the district.(b) The governmental entity assumes all debts and obligations of the district at the time of the transfer.Tex. Spec. Dist. Loc. Laws § 1033.304
Added by Acts 2007, 80th Leg., R.S., Ch. 920, Sec. 1.02, eff. 4/1/2009.