This section defines key terms related to public securities that are secured by ad valorem taxes. It clarifies what constitutes a 'debt obligation' and identifies the types of entities classified as 'political subdivisions.' This is relevant for municipalities, counties, school districts, and special taxing districts involved in issuing securities.
Defines 'debt obligation' related to public securities.
Excludes self-supporting public securities from this definition.
Identifies political subdivisions as municipalities, counties, and districts.
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In simple terms: Learn about Texas's DEFINITIONS. In this subchapter: law, including definitions, penalties, and legal implications.. This means people must follow this rule, and breaking it can lead to criminal penalties.
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