Texas Local Government Code § 107.001 Definitions

Sec. 107.001. DEFINITIONS. In this chapter:

(1) "Obligation" includes a bond, certificate, note, or book entry obligation.

(2) "Unfunded liability" means an unfunded, accrued liability of a municipality to a public pension fund as determined by actuarial analysis.

Added by Acts 2003, 78th Leg., ch. 1271, Sec. 1, eff. Sept. 1, 2003.

Section: 107.001  107.002  107.003  107.004  107.005  107.006  107.007  107.008  Next

Last modified: September 28, 2016