Texas Special District Local Laws Code 1102.206 – Additional Means of Securing Repayment of Bonds
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Terms Used In Texas Special District Local Laws Code 1102.206
- 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.
In addition to the authority to issue general obligation bonds and revenue bonds under this subchapter, the board may provide for the security and payment of district bonds from a pledge of a combination of ad valorem taxes as authorized by Section 1102.202 and revenue and other sources as authorized by Section 1102.205.