Texas Special District Local Laws Code 1109.201 – General Obligation Bonds
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Terms Used In Texas Special District Local Laws Code 1109.201
- 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 commissioners court may issue and sell general obligation bonds of the district for any purpose relating to:
(1) purchasing, constructing, acquiring, repairing, or renovating buildings and improvements;
(2) equipping buildings and improvements;
(3) acquiring or operating a mobile emergency medical service; and
(4) hospital purposes.