Texas Transportation Code 172.055 – Automatic Assumption of Contractual Obligations After Creation by Certain Districts
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Terms Used In Texas Transportation Code 172.055
- Contract: A legal written agreement that becomes binding when signed.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
A district created or re-created under § 172.052 automatically assumes any obligation of a contract executed by the district or a predecessor district that is in force on the date of the creation or re-creation unless the contract expressly expires on the date of dissolution or re-creation of the district that executed the contract.