Sec. 56.808.  TITLE TO PROPERTY;  ASSUMPTION OF DEBT.  (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.