Tex. Spec. Dist. Local Laws Code Section 3896.203
Assumption of Assets and Liabilities


(a)

The district may not be dissolved by the city unless the city assumes the obligations of the district, including any bonds or other indebtedness 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 2011, 82nd Leg., R.S., Ch. 699 (H.B. 427), Sec. 1, eff. June 17, 2011.

Source: Section 3896.203 — Assumption of Assets and Liabilities, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­3896.­htm#3896.­203 (accessed Mar. 23, 2024).

3896.001
Definitions
3896.002
Creation and Nature of District
3896.003
Purpose
3896.004
Findings of Benefit and Public Purpose
3896.005
District Territory
3896.006
Eligibility for Reinvestment or Enterprise Zones
3896.007
Applicability of Municipal Management Districts Law
3896.008
Liberal Construction of Chapter
3896.051
Board of Directors
3896.052
Appointment of Directors
3896.053
Nonvoting Directors
3896.054
Conflicts of Interest
3896.055
Director’s Oath or Affirmation
3896.056
Officers
3896.057
Compensation of Directors
3896.059
Quorum
3896.101
General Powers and Duties
3896.102
Improvement Projects
3896.103
General Powers Regarding Contracts
3896.104
Competitive Bidding
3896.105
Economic Development
3896.106
Rules
3896.107
Name Change
3896.108
Adding or Removing Territory
3896.109
No Eminent Domain Power
3896.110
District Employees
3896.151
General Powers Regarding Financial Matters
3896.152
Borrowing Money
3896.153
Impact Fees and Assessments
3896.154
Certain Residential Property Not Exempt
3896.155
Maintenance and Operation Tax
3896.156
Use of Surplus Maintenance and Operation Money
3896.157
Bond Issuance Plan Required Before Issuing Bonds
3896.158
Bonds and Other Obligations
3896.159
Bond Maturity
3896.160
Taxes for Bonds and Other Obligations
3896.161
Project Development Agreement Required to Impose Taxes or Borrow Money, Including Bonds
3896.162
City Not Required to Pay District Obligations
3896.201
Dissolution by City Ordinance
3896.202
Collection of Assessments and Other Revenue
3896.203
Assumption of Assets and Liabilities

Accessed:
Mar. 23, 2024

§ 3896.203’s source at texas​.gov