Sec. 51.787.  DISCHARGE OF DISTRICT'S OBLIGATIONS BY TRUSTEE.  (a)  The trustee shall reduce all assets and resources of the district to possession and money and apply them to discharge the outstanding obligations of the district, having regard to specific funds.
(b)  If required, the board shall levy, assess, and collect sufficient additional taxes to pay all necessary expenses and outstanding obligations of the district.
Acts 1971, 62nd Leg., p. 378, ch. 58, Sec. 1, eff. Aug. 30, 1971.