Sec. 56.808. TITLE TO PROPERTY; ASSUMPTION OF DEBT. (a) Title to all property of the consolidating districts vests in the consolidated district. The consolidated district assumes and is liable for the outstanding indebtedness of the consolidating districts.
(b) All enforceable contract rights held or owned by a consolidating district are owned and held by the consolidated district. The consolidated district is liable for contractual obligations of a consolidating district.
Added by Acts 1999, 76th Leg., ch. 222, Sec. 12, eff. Sept. 1, 1999.
Structure Texas Statutes
Title 4 - General Law Districts
Chapter 56 - Drainage Districts
Subchapter K. Consolidation of Districts
Section 56.801. Consolidation of Districts
Section 56.802. Consolidation by Agreement
Section 56.803. Consolidation by Petition
Section 56.804. Time of Holding Election; Cost of Election
Section 56.806. Canvass; Result
Section 56.807. Governing Consolidated Districts; Election of Directors
Section 56.808. Title to Property; Assumption of Debt