Texas Special District Local Laws Code
Sec.
§
8162.254
Continuing Powers and Obligations of New Districts
(a)
Each new district may incur and pay debts and has all powers of the original district created by this chapter.
(b)
If the district is divided as provided by this subchapter, the current obligations and any bond authorizations of the district are not impaired. Debts shall be paid by revenue or by taxes or assessments imposed on real property in the district as if the district had not been divided or by contributions from each new district as stated in the terms set by the board under Section 8162.251(e).
(c)
Any other district obligation is divided pro rata among the new districts on an acreage basis or on other terms that are satisfactory to the new districts.Added by Acts 2007, 80th Leg., R.S., Ch. 497 (S.B. 323), Sec. 1, eff. June 16, 2007.