1002.155 – ASSUMPTION OF DEBTS AND TAXES. If the district
Texas Special District Local Laws Code § 1002.155
Summary
This law requires that any annexed territory must assume its share of the existing debts and taxes of a district. During an election, voters will decide on this proposition, ensuring that financial responsibilities are clear before annexation occurs.
Annexed territory must assume its share of district debts.
Proposition for debt assumption is submitted at elections.
Ensures clarity on financial responsibilities before annexation.
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In simple terms: Learn about Texas's ASSUMPTION OF DEBTS AND TAXES. If the district law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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