(a) The board shall certify to the governing body of a withdrawn unit of election and to the comptroller the net financial obligation of the unit to the authority as determined under this subchapter.
(b) If there is no net financial obligation of the unit, the certification must show that fact.

Terms Used In Texas Transportation Code 451.612

  • Comptroller: means the state comptroller of public accounts. See Texas Government Code 312.011
  • 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.
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