No dissolution of such district shall invalidate or affect any right accruing to the district, or to any person, or invalidate or affect any contract or indebtedness entered into or imposed upon the district or person; and whenever the circuit court shall, under the provisions of section 247.630, dissolve any such district, the court shall appoint some competent person to act as trustee for the district dissolved, and such trustee before entering upon the discharge of his duties shall take and subscribe to an oath that he will faithfully discharge the duties of his office, and shall give bond with sufficient security, to be approved by the court, to the use of such dissolved district, for the faithful discharge of his duties, and shall proceed to liquidate the district under orders of the court.