Section 3953.253 - 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) After the district is dissolved, the board shall transfer ownership of all district property to the city.Tex. Spec. Dist. Loc. Laws § 3953.253
Added by Acts 2017, Texas Acts of the 85th Leg. - Regular Session, ch. 630,Sec. 1, eff. 6/12/2017.