Section 3965.0703 - 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.Tex. Spec. Dist. Loc. Laws § 3965.0703
Added by Acts 2019, Texas Acts of the 86th Leg.- Regular Session, ch. 544,Sec. 1, eff. 9/1/2019.