Texas Special District Local Laws Code 1114.201 – General Obligation Bonds
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Terms Used In Texas Special District Local Laws Code 1114.201
- 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.
The board may issue and sell general obligation bonds in the name and on the faith and credit of the district for:
(1) purchasing, constructing, acquiring, repairing, or renovating buildings and improvements;
(2) equipping buildings and improvements for hospital purposes;
(3) acquiring and operating a mobile emergency medical service; and
(4) providing medical services.