Texas Government Code 1508.110 – Use of Income for Other Purpose Prohibited
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Terms Used In Texas Government Code 1508.110
- 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 a project described by Section 1508.102 to pay another debt, expense, or obligation of the municipality until the debt secured by the income is fully paid.