- (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.