Texas Water Code 55.454 – Incurring Debt Without Voter Approval
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Water Code 55.454
- 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.
None of the provisions of this subchapter shall prevent the board from creating any debt or obligation without voter approval if the debt or obligation is created to defray ordinary maintenance and operating expenses or if the debt or obligation is to be retired from current revenues.