Texas Government Code 1504.208 – Use of Income for Other Purposes Prohibited
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Terms Used In Texas Government Code 1504.208
- 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 municipality may not use the income from the exposition or convention hall to pay any other debt, expense, or obligation of the municipality until the debt secured by the income is fully paid.