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Terms Used In Texas Government Code 479.0002

  • Contract: A legal written agreement that becomes binding when signed.
  • 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.

This chapter may not be construed as creating or requiring a state guarantee of an obligation imposed on an endorsing municipality, an endorsing county, or this state under a motor sports racing event support contract or another agreement relating to hosting a motor sports racing event in this state.