Texas Special District Local Laws Code 3943.0504 – Payment of Expenses
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Terms Used In Texas Special District Local Laws Code 3943.0504
- Contract: A legal written agreement that becomes binding when signed.
- Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
- 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 district may provide or secure the payment or repayment of any district expense, including:
(1) a district cost relating to an improvement project;
(2) a district contractual obligation or indebtedness, because of a lease, installment purchase contract, or other agreement; or
(3) a tax, user fee, concession fee, rental fee, or other revenue or resources of the district.