Section 7886.0205 - Agreement and Order Relating to Dissolution of District(a) A corporation may enter into an agreement with the district to: (1) accept assignment of the district's certificate of public convenience and necessity obtained under Section 13.246, Water Code, and any right obtained under the certificate, after the utility commission determines that the corporation is capable of rendering adequate and continuous service as required by Section 13.251, Water Code;(2) assume the district's debts, liabilities, and obligations;(3) assume ownership of the district's assets and facilities; and(4) perform the district's functions and provide all services previously provided by the district.(b) If a corporation enters into an agreement described by Subsection (a), the board shall issue an order that dissolves the district.(c) The district's dissolution becomes effective on the 30th day after the date the board issues the order dissolving the district.(d) On the effective date of the dissolution: (1) all of the district's property and other assets are transferred to the corporation;(2) all of the district's debts, liabilities, and other obligations are assumed by the corporation; and(3) the district's certificate of public convenience and necessity and any right obtained under the certificate is assigned to the corporation in the manner prescribed by Section 13.251, Water Code.Tex. Spec. Dist. Loc. Laws § 7886.0205
Added by Acts 2021, Texas Acts of the 87th Leg. - Regular Session, ch. 914,Sec. 1.02, eff. 4/1/2023.