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State Government Indebtedness Is Highly Restricted in Texas Because the Framers

question 28

True/False

State government indebtedness is highly restricted in Texas because the framers of the Texas Constitution strongly believed in a "pay-as-you-go" system of government.


Definitions:

Payments

Regular amounts of money paid by one party to another, often in exchange for goods, services, or to fulfill a legal obligation.

Ordinary Annuity

Harmony of equal contributions at the end of each cycle for a particular duration.

Expressed

Clearly stated, articulated, or otherwise made known in explicit terms.

Years

Units of time measuring 365 or 366 days, used as a standard time period for comparing durations.

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