Texas Special District Local Laws Code 8510.0502 – Loans and Grants
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Terms Used In Texas Special District Local Laws Code 8510.0502
- 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.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The authority may:
(1) borrow money for its corporate purposes; and
(2) borrow money or accept a grant from the United States, this state, or any other source, and in connection with the loan or grant, enter into any agreement or assume any obligation as may be required.