Section 3937.253 - Assumption of Assets and Liabilities(a) If a municipality dissolves the district, the municipality 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 a municipality dissolves the district, the board shall transfer ownership of all district property to the municipality.Tex. Spec. Dist. Loc. Laws § 3937.253
Added by Acts 2015, Texas Acts of the 84th Leg. - Regular Session, ch. 879,Sec. 1, eff. 6/18/2015.