Texas · Through 89th 2nd Called Legislative Session, 2025

Tex. Special District Local Laws Code § 3886.253: ASSUMPTION OF ASSETS AND LIABILITIES.

Where this section sits in the code

SPECIAL DISTRICT LOCAL LAWS CODE
TITLE 4. DEVELOPMENT AND IMPROVEMENT
SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT
CHAPTER 3886. PROSPER MANAGEMENT DISTRICT NO. 1
SUBCHAPTER F. DISSOLUTION

(a) After the town dissolves the district, the town assumes the obligations of the district, including any bonds or other indebtedness payable from assessments or other district revenue.

(b) If the town dissolves the district, the board shall transfer ownership of all district property to the town.

Added by Acts 2009, 81st Leg., R.S., Ch. 1077 (H.B. 4752), Sec. 1, eff. September 1, 2009.

Collected 2026-08-27T01:47:41Z. Source file · JSON

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