Texas Special District Local Laws Code 1001.351 – General Obligation Bonds
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Terms Used In Texas Special District Local Laws Code 1001.351
- 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.
The governing body may issue and sell general obligation bonds in the name and on the faith and credit of the district to purchase, construct, acquire, equip, or enlarge the hospital or hospital system.