Local obligation law definition

Local obligation law means a local law passed by the local legislative body
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Local obligation law means a local law passed by the local legislative body regarding a bond that was approved by a majority of qualified voters in an election.
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Local obligation law means a local law passed by the local legislative body regarding the issuance of a bond, note, lease, finance agreement, or other similar obligation.
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Related to Local obligation law

  • Financial Obligation means a (i) debt obligation; (ii) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (iii) guarantee of (i) or (ii). The term Financial Obligation shall not include municipal securities as to which a final official statement has been provided to the MSRB consistent with the Rule.

  • Liquidity Obligations means all principal, interest, fees and other amounts owing to the Liquidity Providers under the Liquidity Facilities, Section 8.1 of the Participation Agreements or the Fee Letters.