Tex. Water Code § 62.313
This is the official text of Tex. Water Code § 62.313, part of Texas’s Water Code — governs water rights and water resource management.
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§ 62.313. OBLIGATIONS NOT AFFECTED; PRO RATA ASSUMPTION.
Official statutory text
(a) Except as provided in Subsection (b) of this section, annexation shall in no way affect the bonded debt or any other valid outstanding obligation of the annexing district.
(b) If the voters at the annexation election in the county annexed vote to assume a pro rata part of the bonded debt of the annexing district, pro rata assumption shall be binding. If that proposition is not approved by a majority of those electors voting in the election, the persons and property within the county annexed shall never be bound to the payment of any debt of the annexing district outstanding at the time of annexation.
(b) If the voters at the annexation election in the county annexed vote to assume a pro rata part of the bonded debt of the annexing district, pro rata assumption shall be binding. If that proposition is not approved by a majority of those electors voting in the election, the persons and property within the county annexed shall never be bound to the payment of any debt of the annexing district outstanding at the time of annexation.
Status: in_force · Read it on the official government site
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