Texas Water Code 58.396 – Loans Accomplished by Sale of District Bonds
Current as of: 2024 | Check for updates
|
Other versions
Terms Used In Texas Water Code 58.396
- 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.
If the loan is secured by the sale of district bonds, the district may enter into an obligation to be conditioned conformably with the usages of investment banking to repurchase the bonds within the five-year period immediately following the date of the loan.