Texas Special District Local Laws Code 1045.202 – General Obligation Bonds
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Terms Used In Texas Special District Local Laws Code 1045.202
- 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 authorized by an election in the name and on the faith and credit of the district to:
(1) purchase, construct, acquire, repair, equip, or renovate buildings, facilities, equipment, or improvements for hospital purposes, including facilities and improvements incidental and beneficial to operating and maintaining hospitals and ancillary facilities that provide medical and ancillary health care services and treatment; or
(2) acquire and operate a mobile emergency medical service.