Sec. 54.731.  DEBTS OF ORIGINAL DISTRICTS.  (a)  After two or more districts are consolidated, the debts of the original districts shall be protected and may not be impaired.  These debts may be paid by taxes levied on the land in the original districts as if they had not consolidated or from contributions from the consolidated district on terms stated in the consolidation agreement.
(b)  If each district assumed the other's bonds, notes, and other obligations, taxes may be levied uniformly on all taxable property within the consolidated district in payment of the debts.
Added by Acts 1971, 62nd Leg., p. 811, ch. 84, Sec. 1.