Sec. 62.094. DISTRIBUTION OF ASSETS. (a) The compensation of the receiver, court costs, and expenses have priority over other claims against an abolished municipality and shall be paid first out of money on hand or collected.
(b) Money collected each year from taxes shall be paid pro rata on claims according to their priorities until all claims established against the municipality and all costs and expenses are paid in full.
(c) After the final settlement of the receivership, the receiver shall deliver money or other property remaining to the trustees or other officers in charge of any public school district located completely within the boundaries of the abolished municipality, and the money or property shall be used for the benefit of the school district. If there is no such public school district, the receiver shall deliver the remaining money or property to the county in which the municipality is located. The money shall be deposited in the general fund of the county, and the property shall be used for the benefit of the county.
Acts 1987, 70th Leg., ch. 149, Sec. 1, eff. Sept. 1, 1987.
Structure Texas Statutes
Title 2 - Organization of Municipal Government
Subtitle E - Consolidation and Abolition of Municipalities
Chapter 62 - Abolition of Municipalities
Subchapter C. Payment of Indebtedness and Disposition of Assets Under Receivership
Section 62.081. Presentation of Claims
Section 62.082. Notice of Claims
Section 62.083. Approval of Claims
Section 62.084. Complete or Partial Disallowance of Claim
Section 62.085. Taxpayer Protest
Section 62.086. Suits to Establish Claims
Section 62.087. Allowance and Approval of Established Claims
Section 62.088. Liability for Costs
Section 62.090. Payment of Claims
Section 62.091. Additional Tax
Section 62.092. Assessment and Collection of Tax