(a) If the dissolved district has bonds or other obligations outstanding secured by and payable from assessments or other revenue, other than ad valorem taxes, the city succeeds to the rights and obligations of the district regarding enforcement and collection of the assessments or other revenue.(b) If the district is dissolved, the city has and may exercise all district powers to enforce and collect the assessments or other revenue to pay:(1) the bonds or other obligations when due and payable according to their terms; or(2) special revenue or assessment bonds or other obligations issued by the city to refund the outstanding bonds or obligations. Added by Acts 2011, 82nd Leg., R.S., Ch. 880 (S.B. 234), Sec. 1, eff. June 17, 2011.
Texas Legal Code