Tex. Spec. Dist. Local Laws Code Section 9019.102
Power to Acquire Property and Assume Indebtedness

(a)

The district may purchase or otherwise acquire from the city any property owned by the city, for the production, distribution, and sale of water and everything appurtenant thereto on terms agreed to by the governing bodies of the city and the district.

(b)

The district may assume all outstanding bonds, warrants, and other forms of indebtedness of the city issued for waterworks purposes, including indebtedness payable from:

(1)

the revenue of the city’s waterworks system; or

(2)

ad valorem taxes.

(c)

The assumption of indebtedness described by Subsection (b) must first be approved at an election held in the district in the manner provided by this chapter for bond elections.
Added by Acts 2013, 83rd Leg., R.S., Ch. 112 (S.B. 1026), Sec. 1.06, eff. April 1, 2015.

Source: Section 9019.102 — Power to Acquire Property and Assume Indebtedness, https://statutes.­capitol.­texas.­gov/Docs/SD/htm/SD.­9019.­htm#9019.­102 (accessed Jun. 5, 2024).

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Accessed:
Jun. 5, 2024

§ 9019.102’s source at texas​.gov