Texas Special District Local Laws Code 21.056 – Continued Bond Obligation for Excluded County
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Terms Used In Texas Special District Local Laws Code 21.056
- 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 exclusion of a county under Section 21.054(c) does not relieve the district of its obligation to perform and observe the covenants and obligations or the conditions prescribed by the order or resolution authorizing the issuance of the district’s bonds.