Texas Special District Local Laws Code 1043.201 – General Obligation Bonds
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Terms Used In Texas Special District Local Laws Code 1043.201
- 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 any purpose relating to:
(1) the purchase, construction, acquisition, repair, or renovation of buildings or improvements, including medical facilities; and
(2) equipping buildings or improvements for hospital or medical purposes.