As used in this chapter, "obligation" means an obligation to repay:

1. (1) the principal and interest on bonds;
2. (2) lease rentals on leases; or

3. (3) any other contractual obligation;

   payable from tax increment revenues. The term includes a guarantee of repayment from tax increment revenues if other revenues are insufficient to make a payment.

As added by P.L.146-2008, SEC.235.