Texas Special District Local Laws Code 8501.251 – Power to Borrow Money; Evidence of Obligation
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Terms Used In Texas Special District Local Laws Code 8501.251
- Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
- 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.
- United States: includes a department, bureau, or other agency of the United States of America. See Texas Government Code 311.005
The authority may:
(1) borrow money from any source, including an agency of the United States; and
(2) issue a note, warrant, certificate of indebtedness, or other form of obligation of the authority as evidence of the borrowed money.