Tex. Spec. Dist. Local Laws Code Section 3793.0603
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.

Added by Acts 2021, 87th Leg., R.S., Ch. 986 (H.B. 4590), Sec. 1, eff. September 1, 2021.

Source: Section 3793.0603 — Assumption of Assets and Liabilities, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3793.htm#3793.0603 (accessed May 4, 2024).

3793.0101
Definitions 3793.0102
Creation and Nature of District 3793.0103
Purpose 3793.0104
Findings of Benefit and Public Purpose 3793.0105
District Territory 3793.0106
Applicability of Municipal Management Districts Law 3793.0107
Construction of Chapter 3793.0108
Conflicts of Law 3793.0109
Consent of Municipality and Development Agreement Required 3793.0201
Governing Body 3793.0202
Appointment and Removal of Director Appointed by City 3793.0203
Appointment by Commission 3793.0204
Vacancy 3793.0205
Director’s Oath or Affirmation 3793.0206
Officers 3793.0207
Compensation 3793.0208
Liability Insurance 3793.0209
No Executive Committee 3793.0301
General Powers and Duties 3793.0302
Improvement Projects and Services 3793.0303
Location of Improvement Project 3793.0304
Ownership of Improvement Projects 3793.0305
Retail Water and Sewer Services Prohibited 3793.0306
Adding or Removing Territory 3793.0307
No Eminent Domain Power 3793.0401
Disbursements and Transfers of Money 3793.0402
Money Used for Improvements or Services 3793.0403
Method of Notice for Hearing 3793.0404
Assessments 3793.0405
Notice of Assessments 3793.0501
Bonds and Other Obligations 3793.0601
Dissolution by City Ordinance 3793.0602
Collection of Assessments and Other Revenue 3793.0603
Assumption of Assets and Liabilities

Accessed:
May 4, 2024

§ 3793.0603’s source at texas.gov

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Location: https://texas.public.law/statutes/tex._spec._dist._local_laws_code_section_3793.0603

Original Source: Section 3793.0603 — Assumption of Assets and Liabilities, https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3793.htm#3793.0603 (last accessed May 4, 2024).