Section 3950.303 - 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 § 3950.303
Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 803,Sec. 1, eff. 6/15/2017.