{"data":{"id":"us-tx/tex.-special-district-local-laws-code-3868.253","jurisdiction":"us-tx","citation":"Tex. Special District Local Laws Code § 3868.253","heading":"ASSUMPTION OF ASSETS AND LIABILITIES.","body":"(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.\n(b) If the town dissolves the district, the board shall transfer ownership of all district property to the town.\nAdded by Acts 2011, 82nd Leg., R.S., Ch. 1190 (H.B. 3819), Sec. 1, eff. September 1, 2011.","path":["SPECIAL DISTRICT LOCAL LAWS CODE","TITLE 4. DEVELOPMENT AND IMPROVEMENT","SUBTITLE C. DEVELOPMENT, IMPROVEMENT, AND MANAGEMENT","CHAPTER 3868. VALENCIA MUNICIPAL MANAGEMENT DISTRICT NO. 1","SUBCHAPTER E. DISSOLUTION"],"source_url":"https://statutes.capitol.texas.gov/Docs/SD/htm/SD.3868.htm#3868.253","current_through":"89th 2nd Called Legislative Session, 2025","vintage":"","retrieved_at":"2026-08-27T01:47:41Z","sha256":"0b58992c54e11f26cfce51ed050c976f7585f5de59858bc92597b76ac31cd51f","source_id":"us-tx","stale":false,"prev":"us-tx/tex.-special-district-local-laws-code-3868.252","next":"us-tx/tex.-special-district-local-laws-code-3869.001"},"notice":"GroundRules: Original legal text. Not legal advice."}