The annexation agreement may allocate to the receiving district any portion of the indebtedness of the district from which the territory is detached, and the receiving district assumes and is liable for the allocated indebtedness.
Tex. Educ. Code § 49.104
ALLOCATION OF INDEBTEDNESS
Added by Acts 1995, 74th Leg., ch. 260, Sec. 1, eff
Official source: Texas Constitution and Statutes. Reproduced from public-domain Texas statutes; confirm against the official source for the current text. Not legal advice.