Texas Government Code 1477.065 – Taxes Pledged to Pay Bonds
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Terms Used In Texas Government Code 1477.065
- 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.
A bond issued under this subchapter that is secured wholly or partially by a pledge of a tax imposed under § 9, Article VIII, Texas Constitution, is considered to be payable wholly from that tax for the purpose of determining the availability of taxing power of the county to pay an obligation that is payable from that tax.