(a) If the dissolved district has bonds or other obligations outstanding secured by and payable from assessments or other revenue, the city succeeds to the rights and obligations of the district regarding enforcement and collection of the assessments or other revenue.(b) The city shall have and 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 of the district. Added by Acts 2013, 83rd Leg., R.S., Ch. 1308 (H.B. 3914), Sec. 3, eff. September 1, 2013.
Texas Legal Code