Sec. 7886.0206.  AGREEMENT AND ORDER RELATING TO WATER AND WASTEWATER SERVICE.  (a) A corporation may enter into an agreement with the district to:
(1)  assume the district's debts, liabilities, and obligations relating to water and wastewater service;
(2)  assume ownership of the district's assets and facilities relating to water and wastewater service;
(3)  apply to the utility commission to obtain a certificate of public convenience and necessity or an amendment to a certificate under Section 13.244, Water Code, to render water and wastewater service to the area served by the district; and
(4)  perform the district's functions relating to water and wastewater service and provide all services relating to those services previously provided by the district.
(b)  If a corporation enters into an agreement described by Subsection (a) and the utility commission grants to the corporation a certificate of public convenience and necessity as described by Subsection (a)(3), the board shall issue an order transferring the district's debts, liabilities, obligations, assets, and facilities relating to water and wastewater service to the corporation.
(c)  On the 30th day after the date the board issues the order transferring the district's debts, liabilities, obligations, assets, and facilities:
(1)  all of the district's property and other assets relating to water and wastewater service are transferred to the corporation; and
(2)  all of the district's debts, liabilities, and other obligations relating to water and wastewater service are assumed by the corporation. 
Added by Acts 2021, 87th Leg., R.S., Ch. 914 (H.B. 3530), Sec. 1.02, eff. April 1, 2023.