Texas Government Code 1303.001 – Use of Bond Proceeds for Owner-Controlled Insurance Program
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Government Code 1303.001
- 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 county may use the proceeds of bonds or certificates of obligation issued to pay for a county construction project to pay for an owner-controlled insurance program under which the county establishes and administers a consolidated insurance program for the project if the county’s order authorizing the issuance of the bonds or other certificates of obligation authorizes the establishment of the program.