Texas Special District Local Laws Code 1064.251 – General Obligation Bonds, Certificates of Obligation, and Other Financing
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Terms Used In Texas Special District Local Laws Code 1064.251
- 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, certificates of obligation, or any other type of financing authorized by the laws of this state, including that type of financing authorized by Chapter 271, Local Government Code, 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; and
(2) equipping buildings or improvements for hospital purposes.